Border Announces Exploration Results and CEE Expenditure Status

Border Announces Exploration Results and CEE Expenditure Status
  
 

CALGARY, ALBERTA--(Marketwired - Jan 20, 2014) - Border Petroleum Corp. ("Border" or the "Corporation") (TSX-VENTURE:BOR) is pleased to announce results of the drilling and completion operations that utilized its remaining CEE obligations. Border participated in the drilling of one well (100% WI) and two well completions (100% and 30% WI) which are described in more detail below.

Wilrich Zone Completion at Tomahawk, Central Alberta

Border incurred 100% of the cost to complete the Wilrich zone in a vertical well located at LSD 1-20-52-7W5 in the Tomahawk area of Central Alberta. Results exceeded expectations in that during 130 hours of clean-up after fracture stimulation, flow increased to a relatively stable rate of 30.5 M3/d (1,080 mcf/d).

Border earned a 60% working interest in the section of land (640 acres) on which the well is located.

Test Well at Conrad Property, SE Alberta

Border incurred 100% of the drilling costs of a well located at LSD 3-32-5-15W4 in the Conrad area of south eastern Alberta. The well was drilled as a vertical strat test that was subsequently sidetracked for use as a future Sawtooth horizontal well.

Border earned a 60% working interest in the target zone on the quarter section of land on which the well was drilled.

Cutbank Zone Completion at Montgomery, Southwestern Alberta

Border incurred 30% of the cost to complete the Cutbank zone in a vertical well located at LSD 1-16-12-29 W4 in the Montgomery area of south western Alberta. The well stabilized at a rate of approximately 13.0 M3/d (450mcf/d).

Border earned a 30% working interest in the completed well.

CEE Expenditures

As a result of the expenditures described above, Border was able to meet the CEE expenditure commitments related to the flow through agreements entered into in September 2012.

Neither the 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.

Border Petroleum Corp.Steve ThompsonCOO(403) 538-8448Border Petroleum Corp.John AihoshiCFO(403) 538-8448Border Petroleum Corp.Al KroontjeInterim CEO(403) 538-8448(403) 444-5042