Contact Exploration Inc. is currently in the late stages of drilling the Contact operated well at 02/14- 30 -63-5 W6M (02/14-30 Well). This well was originally programmed to target a bottom hole location of 15- 30 -63-5 W6M, but during drilling it became operationally advantageous to target a bottom hole location of 14- 30 -63-5 W6M. The 02/14-30 Well is being drilled in the Upper Montney D4 interval.

The Company anticipates that completion operations on the 02/14-30 Well will be finalized in late March 2014. With success, Contact expects the 02/14-30 Well to be equipped and flowing into the Company's central compression and condensate stabilization facility in May 2014. Upon rig release of the 02/14-30 Well, the Company anticipates spudding a well by mid-March 2014 from a centrally located pad at 7-19-63-5 W6M, with the intention of drilling a minimum of two new wells from this surface location through spring break-up 2014.

Tags: Contact Exploration Inc.