Open Range Energy Corp. report strong initial production rates from recently completed high-working-interest horizontal wells targeting the Notikewin and Wilrich formations at its core Ansell/Sundance Deep Basin property.

Recent tie-ins of liquids-rich wells have increased current total corporate production to approximately 6,350 boe per day, exceeding the Company's 2011 exit production guidance of 6,200 boe per day.

Open Range has successfully completed its 2011 capital program of 16 wells and the Company's 2012 capital investment and operating program are expected to be finalized and released by mid-January 2012.

Recent Company activity at Ansell/Sundance includes:

■ The 100 percent Open Range 13-2 Notikewin horizontal well was just brought on-stream, achieving a 24-hour IP rate of 4.3 mmcf per day, plus natural gas liquids, at a casing pressure of 9,700 kPa, following strong clean-up test results. This result further validates Open Range's Notikewin horizontal inventory of 34 net locations at Ansell/Sundance;

■ The previously announced 100 percent Open Range 13-26 Notikewin horizontal well has averaged approximately 6.4 mmcf per day, plus liquids, at a casing pressure of 9,500 kPa over its first 21 days on-production and to date has cumulative production exceeding 150 mmcf, plus liquids;

■ The 100 percent Open Range 13-3 Wilrich horizontal well was recently brought on-stream and has achieved a five-day average IP rate of approximately 4 mmcf per day, plus liquids, at a casing pressure of 9,000 kPa;

■ The previously announced 60 percent Open Range 12-31 Wilrich horizontal well continues to perform extremely well, achieving an IP60 of approximately 5 mmcf per day, plus liquids.

"We clearly now have two bona fide liquids-rich horizontal plays with significant inventories at Ansell/Sundance that will continue to enhance our growth profile and cost structure," said Scott Dawson, Open Range's President and Chief Executive Officer. "Open Range continues to achieve profitable growth in the current, low natural gas price environment, and we are pleased to have exceeded our production guidance for year-end 2011."

The Company is continuing to achieve efficient spud to on-stream cycle times of approximately 45 days. Drill, complete, equip and tie-in costs on recent Wilrich and Notikewin wells are averaging approximately $5.4 million, supporting profitable economics at current commodity prices.

Open Range's first 60 percent working interest Cardium horizontal well has been successfully hydraulically fractured and completion clean-up operations will be ongoing in January 2012.

Tags: Open Range Energy Corp.