| ||March 26, 2008|
Thunderbird Signs Agreement To Expand Weston County, Wyoming And Gordon Creek, Utah Property Interests
| ||Vancouver, British Columbia, March 26, 2008 - Thunderbird Energy Corp. (TSX-V: TBD) (the "Company") announces that it has entered into an agreement to increase its working interest from 50% to 95% in the Weston County, Wyoming and Gordon Creek, Utah projects. The Company announced the acquisition of its initial 50% working interest in these projects in a news release dated February 1, 2008. The completion of the current acquisition is subject to legal due diligence.|
Weston County, Wyoming
The Weston County project consists of roughly 21,000 acres located in a prolific oil and gas producing area of the Eastern Powder River Basin. The project has a number of conventional oil and natural gas targets in the Dakota and Minnelusa formations. The Cretaceous Dakota and Permo-Penn Minnelusa are both highly productive sandstone reservoirs when found in trapping positions and have accounted for hundreds of millions of barrels of production in the Powder River Basin. Examples of Dakota and Minnelusa fields in the vicinity of the Weston County Project include the Donkey Creek, Raven Creek, Coyote Creek and Slattery fields, which have cumulative production to date of 100 million barrels of oil and 40 Bcf of natural gas.
Approximately 200 miles of 2D seismic were shot over the subject lands in the early 1980's and Thunderbird is currently designing a 3D program to cover portions of the lands that appear prospective for both Dakota and Minnelusa production.
Thunderbird is the operator of the project, holds a 100% interest in approximately 2000 acres and under the new agreement, will hold a 95% working interest approximately 19,000 acres.
Gordon Creek, Utah
Thunderbird will be increasing its interest to approximately 95% in a 5000 acre land package, which is adjacent to and immediately North of Thunderbird's existing Gordon Creek producing natural gas field -bringing Thunderbird's net land position to nearly 10,000 acres. The existing Gordon Creek field includes 4 producing wells, 6 shut in wells and a gathering/compressor system with over 10km of pipeline. Gas is delivered to a transmission line owned by Questar Corporation which crosses the project. The Gordon Creek field was originally drilled in 2002-2003 and lies immediately West of and up-structure from the Drunkards Wash gas field, currently owned by Conoco/Phillips. Drunkard's Wash is Utah's largest natural gas field and largest coal bed methane field, and has been operating since 1992. The average well life at Drunkard's Wash is approximately 18 years and the average recoverable reserves are 1.75 Bcf per well from the Ferron Sandstone and Ferron Coal formations.
Thunderbird Energy is a Canadian based oil and gas exploration and Production Company with interests in the US Rockies and mid-continent regions. Thunderbird's holdings include the Gordon Creek, Utah natural gas field, the Rush County, Kansas light oil project and the Weston County Wyoming project.
For more information, contact:
President and CEO
THUNDERBIRD ENERGY CORP.
847 Hamilton Street
Vancouver, B.C. V6B 2R7
The TSX Venture Exchange has not reviewed and does not accept responsibility for the accuracy or the adequacy of this press release.
Caution Regarding Forward- looking information
Information in this news release respecting the reserves valuations, expected production levels, prices and anticipated total oil and gas recoveries constitutes forward-looking information. Statements containing forward-looking information express, as at the date of this news release, the Company's plans, expectations, or beliefs as to future events or results are believed to be reasonable based on the information currently available to the Company. The Company does not undertake to update any such forward-looking statements.
Statements including forward-looking information involve known and unknown risks, uncertainties and other factors which may cause the actual results of the Company and its operations to be materially different from estimated costs or results expressed or implied by such forward-looking statements.
There can be no assurance that forward-looking statements will prove to be accurate. Actual results and future events could differ materially from those anticipated in such statements. Readers should not place undue reliance on forward-looking information.
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