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TBD Gordon Greek Energy, Inc.

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Share Name Share Symbol Market Type
Gordon Greek Energy, Inc. TSXV:TBD 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 -

Thunderbird Energy Corp.: Gordon Creek Completion Program Update

21/12/2012 12:36am

Marketwired Canada


Thunderbird Energy Corp. (TSX VENTURE:TBD)(OTCBB:TBDYF) (the "Company") today
announced that it has recently commenced production from all 8 wells that were
the subject of the Gordon Creek fall 2012 completion program. Gordon Creek field
volumes are currently averaging 5,265 mcf/day raw natural gas (4,975 mcf/day
sales gas). Of this total, approximately 4,200 mcf/day raw gas (3,970 sales gas)
is coming from the 8 new wells. At current production levels, Thunderbird's net
share of gas sales is roughly 60% of gross sales after accounting for other
partner interests including Sandstorm Metals & Energy Ltd. ("Sandstorm").


The Company will not be in a position to assess the peak potential of the new
wells until the wells have had a chance to completely recover frac fluids and
have also had sufficient time (potentially months) to dewater the coals.
Depending on the relative contribution of production of gas from sand pay versus
coal pay, some wells can reach their peak production relatively quickly while
some wells can take 6 months or more to reach maximum production rates. Although
the wells have only recently commenced production, the Company is observing
increasing rates and estimates that it will be at least 2 to 3 months before the
group of 8 wells approaches peak production.


The Company's original expectation for these eight new wells - based on the
analog wells producing at the adjacent Drunkard's Wash field - was a first year
average raw gas production rate of 460 Mcf/day per well. Initial indications are
that that the current 8 well program is going to exceed this expectation and
that the greater than anticipated pay thicknesses and porosities in the NW area
of the Gordon Creek project are a significant factor in this result.


Given the better than expected initial productivity, the wealth of experience
garnered from these initial 8 new drills and the fact that the necessary support
infrastructure is now in place, Thunderbird is looking forward to planning an
expanded 2013 Gordon Creek development program that will be focused almost
exclusively on drilling additional wells. These initial results also put the
Company on track to meet or exceed the minimum volume commitments for 2012-2013
set out in its development agreement with Sandstorm. 


Thunderbird Energy is a Canadian-based oil and gas exploration and production
Company with interests in the US Rockies and mid-continent regions.


Caution Regarding Forward-looking information

Information in this news release respecting anticipated petroleum and natural
gas production, as well as the Company's proposed development operations and
contractual commitments 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 unless required by applicable securities legislation.



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. 


FOR FURTHER INFORMATION PLEASE CONTACT: 
Thunderbird Energy Corp.
Rick J. Ironside, P. Eng MBA
President and COO
403-453-1608
rironside@thunderbirdenergy.com


Thunderbird Energy Corp.
800 - 555 4th Ave SW
Calgary, AB T2P 3E7
403-453-1608


Thunderbird Energy Corp.
Cam White
Chief Executive Officer
604-707-0373
cwhite@thunderbirdenergy.com


Thunderbird Energy Corp.
401 - 533 Smithe Street
Vancouver, BC V6B 6H1
604-707-0373
www.thunderbirdenergy.com

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1 Year Gordon Greek Energy, Inc. Chart

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