|By Marketwired .||
|May 1, 2014 04:05 PM EDT||
VANCOUVER, BRITISH COLUMBIA -- (Marketwired) -- 05/01/14 -- Lynden Energy Corp. (TSX VENTURE:LVL) (the "Company") reports that its first horizontal well, the Wolcott 253-1H, has been spud on a 1,127 acre lease in northern Martin County, West Texas. The well has a targeted lateral length of approximately 6,200 feet and will be operated by a Midland, Texas based company (the "Operator"). The well will target the Wolfcamp "B" horizon, which has been successfully tested in horizontal wells by several companies in the Midland Basin, including the Operator.
The Company is funding 24.375% of the cost of the well in which it has a 20% working interest.
Lynden Energy Corp. is in the business of acquiring, exploring and developing petroleum and natural gas rights and properties. The Company has various working interests in the Wolfberry Project and Mitchell Ranch Project, located in the Permian Basin in West Texas, USA.
FORWARD-LOOKING STATEMENTS DISCLAIMER: This news release contains forward-looking statements. The reader is cautioned that assumptions used in the preparation of such statements, although considered accurate at the time of preparation, may prove incorrect, and the actual results may vary materially from the statements made herein. Expectations of the lateral length of the Company's first horizontal well are subject to the customary risks of the oil and gas industry. For a more detailed description of these risks, and others, see http://lyndenenergy.com/risk-factors.
ON BEHALF OF THE BOARD OF DIRECTORS
LYNDEN ENERGY CORP.
Colin Watt, President and CEO
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 news release.
Lynden Energy Corp.
(604) 602-9311 (FAX)
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