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First Oil Shipment for Stealth under its contract with Shell Oil

Marketwire: First Oil Shipment for Stealth

Saturday April 05, 2008 22:16:15 EDT
VANCOUVER, BRITISH COLUMBIA, Apr 5, 2008 (Marketwire via COMTEX News Network) —

Stealth Energy Inc. (CNQ:STLH) –

Oil

Work Over Program:

The company reports that the ongoing ‘work over’ program at its East Teapot Dome oilfield in Wyoming has so far been successfully completed to the extent of now nine pump jack wells in production. This program is continuing. Stealth also reports that it has already made its first shipment of 265 barrels and a further shipment is currently scheduled for this week, and thereafter, on a continuing and regular basis, under its contract with Shell Oil.

Drilling:

The Engineering assessment of the wells currently into the ‘Shannon’ formation at Teapot Dome has resulted in eight being selected for deepening to the ‘Shale’ formation. The company is filing a ‘Sundry Notice’ on Monday April 7, 2008. The intention is thereby, to deepen these wells from 1500 feet, to a level of 3000 feet. Drilling is now scheduled for early May 2008.

Gas

Drilling:

Stealth reports that ‘surveyors platts’ have now been delivered to the ‘Board of Oil and Gas’ respecting permitting for two wells on its approximately 12,000 acre gas lease in the Central Montana Basin. The company has scheduled drilling for later this month.

New Lease:

The company reports that it has been negotiating with respect to a further gas lease of approximately 10,000 acres in the Central Montana Basin. Ratification of the lease itself is now complete, and the company has also agreed on the consideration for outstanding options respecting this lease. This latter agreement is now being formalized. Subject to this legal formalization, the surveying and permitting for this property is scheduled to start immediately. The acreage includes two wells drilled in the 1950s, both of which produced gas and were shut in for then lack of pipe transportation. A gas pipeline now crosses the property, and Stealth is pleased to report that this system has capacity, and that chart integration, gathering, dehydration, and compression will result in what Stealth considers to be favourable fees of approximately $0.75 per MCF.

Stealth Energy Inc. is an oil & gas exploration company with its field office in Billings, Montana, USA. The company intends to acquire and develop its own exploration and development oil and gas properties primarily in the states of Montana and Wyoming.

Stealth Energy Inc.

John Campbell President

15,422,352 shares o/s

SOURCE: Stealth Energy Inc.

Stealth Energy Inc.
Carlo Nigro
(604) 669-7831
(604) 669-7885 (FAX)
Email: [email protected]
Website: www.stealthenergy.ca

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Amended headline by John Donovan of www.royaldutchshellplc.com

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellenergy.website, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net and shell2004.com are all owned by John Donovan. There is also a Wikipedia article.

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