Lynden Energy (OTC Other: LVLEF; TSX-V: LVL) produced more than 500 barrels of oil equivalent per day, net to Lynden, from its 30 (12.86 net) Wolfberry Project wells during the ten day period ended March 31, 2012. The highest daily production during the period was 595 barrels of oil equivalent.
The Company is continuing with its aggressive Wolfberry Project development plan which calls for the drilling of 31 gross (12.97 net) Wolfberry wells in calendar 2012, of which 4 gross (1.75 net) wells have now been drilled, completed and tied-in to production.
On the Company’s Mitchell Ranch Project, two new wells have been scheduled for drilling in the area of the Spade #17-1 in June / July with the objective of developing the Wolfcamp zone that is producing in the Spade #17-1. This zone is at a depth of approximately 5,000 feet.