Heidelberg / Denver. Tekton Energy will begin the next phase of its horizontal drilling program at short notice. Start of drilling for the first drilling should be in the week after next. It is planned to drill five holes from the Pavistma South well in sequence and then connect them. Production from these holes is expected to commence in the first half of November. The five holes are part of Tekton's cooperation with Anadarko Petroleum. The two partners each hold about 50% of the holes. Thereafter, the drill program will continue uninterrupted on additional areas of Tekton.

To this end, Tekton signed a six-month contract for a rig yesterday, Monday. The contract makes it possible to perform horizontal drilling directly in succession up to 12. Currently, a hole takes an average of 14 days. Tekton plans to double the number of monthly holes later this year with a second drill.

The first two horizontal wells, which began producing 2013 at the beginning of May, achieved almost the same production rates in June as in May and are among the best wells in the Wattenberg field.

Tekton plans to complete more than just 80 of such production wells on and around Windsor alone. In addition, the company has land of the same size north of Windsor. Comparable wells in Wattenberg provide reserves averaging 325.000 to 350.000 barrels of oil equivalent per well.

Heidelberg, 02. July 2013

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