CALGARY, ALBERTA--(Marketwire - Feb. 17, 2011) - RockBridge Resources Inc. (RockBridge) (News - Market indication) announces that on February 14, 2011, at 23:30 it spudded its first Pembina Cardium horizontal oil well: AEL HZ Pembina 2- 30-48-3W5M. The well will have a total vertical depth of 1244 mKB and a horizontal open hole section measuring approximately 1278 meters in length. The well is anticipated to take 18 drilling days. Thereafter the well will be completed employing multiple frac's in the horizontal section, tested and equipped for production.
RockBridge has a 35.7 percent working interest in the well. The operator of the well is Avatar Energy Ltd.
RockBridge's share for the drilling costs, funds for which were raised through the issuance of common and flow-through shares (see press release of December 31, 2010), is $498,257.
RockBridge's President and CEO, Richard Wolfli, stated, "This is the first well to be drilled on the Company's 4.5 gross sections (2.0 net sections) of land holdings in the exciting Pembina Cardium oil play area. The Company has identified 15 possible horizontal well locations on its current landholdings that it intends to develop. In addition the Company anticipates it will continue to add land holdings in the area."
About RockBridge
RockBridge has 35% to 50% working interests in 4.5 sections in the Pembina Cardium field in Alberta, its core property and development area. The Company and its partner have identified 15 low risk horizontal oil drilling locations on the properties. In addition, RockBridge has a 1.0% interest in the expanding Woodrush project and various non-operated interests in Alberta and British Columbia.
ON BEHALF OF THE BOARD
ROCKBRIDGE RESOURCES INC.
Richard Wolfli, President and CEO
This news release may include statements about expected further events and/or financial results that are forward-looking in nature and subject to risks and uncertainties. RockBridge cautions that actual performance will be affected by a number of factors, many of which are beyond its control. Future events and results may vary substantially from what RockBridge currently foresees. Discussion on the various factors that may affect future results is contained in RockBridge's recent filings, available on SEDAR.
Neither the TSX Venture Exchange Inc. nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange Inc.) accepts responsibility for the adequacy or accuracy of this press release.
