Waldron Energy Corporation provide an operational update for the Belly River oil pool activity at Ferrybank, Alberta and report that the Corporation's credit facilities have been renewed by its lender.
Waldron has drilled two successful horizontal Belly River oil wells in the Ferrybank Belly River G Pool and testing is underway. Currently, the Corporation has added 100 barrels of oil per day from the two horizontal wells. Early production results from these wells continue to improve daily as the completion fluid used in the stimulation diminishes. The Corporation is currently testing the wells and updated test data will be included when Waldron reports the first quarter 2012 results on May 15, 2012.