Park Place puts Morgan Highpoint # 3 "Discovery" Well on production
  by: OilOnline
  Friday, March 28, 2008

Park Place Energy Corp. has announced that the operator, Montello Resources Ltd., has informed the Company that they have completed the drilling, logging, and evaluation of the Morgan Highpoint # 3 "Discovery" Well.

In excess of 250 barrels of light gravity oil flowed to surface during an eight-hour production test on the Morgan Highpoint # 3 "Discovery" Well with an associated high gas/oil ratio. These results led to the decision to place the well on production.

Production optimization levels will be determined once additional storage facilities and oil transportation arrangements are in place.

After encountering hydrocarbons during drilling operations on the Morgan Highpoint # 4 Test Well, the Operator is now evaluating results prior to preparing the completion program.

A multi-well drilling program is now being finalized on mineral leases that have already been acquired by the Operator, its JV Partners and Park Place.

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