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DEI

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Share Name Share Symbol Market Type
TSXV:DEI TSX Venture Common Stock
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.00% 0 -

Donnybrook to Spud Third Extended Reach Horizontal Montney Well at Bigstone

29/02/2012 1:15pm

Marketwired Canada


Donnybrook Energy Inc. ("Donnybrook" or the "Company") (TSX VENTURE:DEI) reports
that it has entered into an agreement to pool certain of its Bigstone Montney
P&NG rights held by the Company and its partners in section 28-60-22W5M with the
Montney P&NG rights held jointly by Trilogy Energy and TAQA North in the
adjacent section 33-60-22W5M for the purpose of drilling an extended reach
horizontal well on the pooled lands. Donnybrook will hold an undivided 25%
interest in the pooled lands and will participate as to a 25% working interest
in the development of the lands, which can accommodate the drilling up to four
extended reach horizontal wells. 


The Donnybrook operated location is scheduled to spud on March 2, 2012 from a
surface location at 4-28-60-22 W5M and with approximately 2,700 metres of
lateral length planned to a bottom hole location at 13-33-60-22 W5M.


At Bigstone, Alberta Donnybrook has 8 gross (3.5 net) sections of P&NG rights
located approximately 35 kilometres (22 miles) east of the eastern edge of the
Company's Simonette acreage block providing an inventory of 14 (6 net) extended
reach development drilling locations.


SIMONETTE, ALBERTA

At Simonette, the Company's third Simonette area horizontal well 1-11-61-27 W5M
(50% working interest) which was drilled, completed and tested in the southeast
portion of the Company's 33 section (16.5 net) contiguous land block at
Simonette is anticipated to be tied-in and put on production by mid-March. The
Cequence Energy operated step-out well is expected to commence production at
rates of approximately 8 mmcf per day of natural gas and free condensate
estimated at approximately 40 barrels per day (1,370 boe per day gross; 685 boe
per day net). It is expected that additional natural gas liquids of
approximately 30 to 40 barrels of NGLs per mmcf will be recovered at the
processing facility.


Donnybrook holds interests in 46 gross (22.5 net) sections of petroleum and
natural gas rights in the Bigstone-Simonette-Resthaven liquid rich natural gas
resource play in the Deep Basin area of west central Alberta providing a
development drilling inventory of up to an equivalent of 70 gross (34 net)
Montney horizontal development drilling locations.


Further information relating to Donnybrook is also available on its website at
www.donnybrookenergy.ca.


ON BEHALF OF THE BOARD OF DONNYBROOK ENERGY INC.

Malcolm F. W. Todd, Chief Executive Officer

FORWARD-LOOKING STATEMENTS

Certain information set forth in this news release contains forward-looking
statements or information ("forward-looking statements"), including statements
regarding the estimated free condensate, the additional potential natural gas
liquids and natural gas initial production rates from the 1-11 Simonette well,
the timing for commencement of production of the 1-11 Simonette well, the timing
of the spud of Donnybrook's third operated horizontal Montney well at Bigstone
and the number of potential extended reach horizontal wells on the pooled lands.
By their nature, forward-looking statements are subject to numerous risks and
uncertainties, some of which are beyond Donnybrook's control, including the
impact of general economic conditions, industry conditions, volatility of
commodity prices, currency fluctuations, imprecision of reserve estimates,
environmental risks, operational risks in exploration and development,
competition from other industry participants, the lack of availability of
qualified personnel or management, stock market volatility and the ability to
access sufficient capital from internal and external sources. Although
Donnybrook believes that the expectations in the forward-looking statements are
reasonable, the forward-looking statements have been based on factors and
assumptions concerning future events which may prove to be inaccurate. Those
factors and assumptions are based upon currently available information. Such
statements are subject to known and unknown risks, uncertainties and other
factors that could influence actual results or events and cause actual results
or events to differ materially from those stated, anticipated or implied in the
forward-looking statements. As such, readers are cautioned not to place undue
reliance on the forward-looking statements, as no assurance can be provided as
to future results, levels of activity or achievements. The risks, uncertainties,
material assumptions and other factors that could affect actual results are
discussed in Donnybrook's Annual Information Form, management's discussion and
analysis and other documents available at www.sedar.com. Furthermore, the
forward-looking statements contained in this document are made as of the date of
this document and, except as required by applicable law, Donnybrook does not
undertake any obligation to publicly update or to revise any of the included
forward-looking statements, whether as a result of new information, future
events or otherwise. The forward-looking statements contained in this document
are expressly qualified by this cautionary statement. 


Where amounts are expressed on a barrel of oil equivalent ("BOE") basis, natural
gas volumes have been converted to oil equivalence at six thousand cubic feet
per barrel. The term BOE may be misleading, particularly if used in isolation. A
BOE conversion ratio of six thousand cubic feet per barrel is based on an energy
equivalency conversion method primarily applicable at the burner tip and does
not represent a value equivalency at the wellhead. References to oil in this
discussion include crude oil and natural gas liquids ("NGLs"). NGLs include
condensate, propane, butane and ethane. References to gas in this discussion
include natural gas.


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