commences new drilling programme

The project below spud in today-2 wells back 2 back

Helper Project
Background
Carpenter has acquired a 72.5% operating interest in the Helper Project, which is part of
a significant coal bed methane play located in the Uinta Basin, Utah. The Helper Field
has produced some 55 billion cubic feet (“bcf”) of gas from the Ferron coal and sands.
The company believes that the shallower Blackhawk coals are also potentially
productive and will be exploited.
Based on empirical data of recoveries from the Helper field, Carpenter anticipates
successful wells could contain recoverable reserves of at least of 1.4 bcf per well.
New Drill Program
The initial drilling program will comprise five wells – with the first three wells to be back
to back. The drilling will target the Ferron coal and sands (estimated coal depths of
2500 to 4200 ft) but will also penetrate the Blackhawk coals, enabling Carpenter to
evaluate both horizons within the same well.
The drilling program will commence late January or early February subject to suitable
weather conditions.