VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 02/04/13 -- Big Sky Petroleum Corp (TSX VENTURE: BSP), as previously reported, spudded the Schafer No.1 vertical Wolfberry Well on January 18th. The well was drilled to a TVD (Total Vertical Depth) of 7,370 feet without any incidents and below the wells' initial cost estimate. The well has been cored, logged and cased. The technical data from both the coring and logging operations has been submitted for analysis and evaluation to determine the multiple horizons which the Company will complete within the wellbore. The well is scheduled to be completed and frac'd during the week of February 18th.
Sam Nastat, President, stated, "The Management of Big Sky is very pleased with the performance of our recently established operating company, BSP Operating, LLC. We drilled the well to 7,370 feet TVD in seven days; logged, cored, cased and cemented the hole in a period of 5 days and came in under budget. We could not have asked for a better performance from our operating division."
About Big Sky
Big Sky is an oil and gas exploration and production company with U.S. operations in Montana and Texas. The Company is currently focused on the development of unconventional tight oil reservoirs in the Southern Alberta Basin of Montana and the Southern Midland Basin in West Texas.
Sam Nastat, President
This press release contains "forward-looking information". Such forward-looking statements reflect our current views with respect to future events and are subject to certain risks, uncertainties and assumptions, including, the risks and uncertainties outlined in our most recent financial statements and reports and registration statement filed with the Canadian securities administrators (available at www.sedar.com). Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those anticipated, believed, estimated or expected.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Big Sky Petroleum Corporation
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