Stealth has completed its 2008 shale gas program at Wildmere, Alberta. The bulk of the 08 capital program commenced on July 3rd, 2008, coming in under the budgeted $350,000 full cycle cost per well.

Of the total 81 wells undertaken for the year (including Q1 wells and recompletions) twenty-four were not tied-in (or producing) prior to year-end. Four are projected to be tied-in during Q1 2009 and an additional five were tied-in but had not been turned on as of December 31, 2008. Of the remaining wells, nine are deemed as non-productive and the final six are not economically viable given today's commodity pricing. The Companies net gas sales number for the month of December 2008 averaged ~550 BOE/D a significant increase of 380% over last year's fourth quarter average of 143BOE/D.

Stealth has used a hedging program to protect its balance sheet and capital expenditures for 2009. The Company currently has approximately 25% of its production hedged from February 01, 2009 to October 31, 2009 at a set price of $5.48Cdn/GJ.

The Company is currently planning additional new drilling at Wildmere in the latter half of the year in order to avoid "spring breakup" and limited surface access as a result of agricultural activities.

Tags: Stealth Ventures Ltd.