daytrading march 26 morning ..., page-36

CEL

Operations Update – Mercury Stetson
? Deeping operations completed
? Logging operations in process
? TD of 11,947 feet reached
? Strong gas through Woodford Shale
26 March 2012: Challenger Energy Ltd (“Challenger”) is pleased to announce that it has reached TD for the well after successfully drilling ~ 150ft of Woodford shale. This adds to the approximately ~ 600 ft of Barnett in the upper part of the well previously reported. Strong gas shows have been observed throughout both shales.