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Old Wed, 04-23-2008, 12:20 PM   #1 (permalink)
ActionCapitalGp
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ActionCapitalGp
Arrow Enhanced Oil Resources Inc. provides drilling update

Enhanced Oil Resources Inc. provides drilling update; Tests 2.4 mmcfpd from Granite Wash well

HOUSTON, April 23 / - Enhanced Oil Resources, Inc. (TSX-V: EOR) today announced the successful test of the 10-5-30 Granite Wash well at the Company's St. Johns Helium/CO(2) field located in Apache County, Arizona and Catron County, New Mexico.

Further to our last drilling update on April 2, 2008, the Company reports that the 10-5-30 well has been drilled and completed as a Granite Wash producer after testing CO(2) at a stabilized rate of 2.4 million cubic feet per day (MMcfpd).

EOR Inc.'s President and CEO Mr. Barry Lasker said, "As evidenced by the 10-5-30 well, our drilling team continues to deliver promising test results and we are encouraged that the Granite Wash/Granite reservoir can continue to deliver at rates higher than previous modeling has suggested."

The Patterson Rig has now moved to the 11-23-30 well, approximately 3 miles north of the 10-2-30 well, to evaluate the Granite Wash. The 11-23-30 well will be drilled with large diameter casing in an effort to repeat the excellent results at the 10-2-30 well, which recently tested CO(2) at rates as high as 6 MMcfpd.

The Company also reports that the Animas rig has drilled the 9-5-31 well, located approximately 2 miles south of the 10-29-31, and encountered a similar Granite Wash interval seen in that well. The well is currently at the Granite interface and waiting on minor repairs to the drill string. Once repairs are complete, the well will be drilled an additional 200 feet to evaluate the fractured/weathered basement.

The Key completion rig is now on location at the 12-34-29X well to help unload drilling fluid from the 1,000-foot lateral component drilled earlier.
The well continues to flow considerable gas and fluid at a rate of 200 barrels of water per day. The Company remains encouraged that a water-free completion will be made at the well.

Lastly, the Company has set a whip stock in each of the Granite Wash and Amos Wash wells drilled at the 12-31-30 location in preparation for taking each well horizontal. The horizontal well permits have now been received and drilling of these laterals will commence once a rig comes available.

About Enhanced Oil Resources
Enhanced Oil Resources, Inc. (EOR) is an early-stage company focused on developing the St. Johns Helium/CO(2) field, and producing oil via enhanced oil recovery processes using CO(2) injection in the United States. The Company owns and operates the St. Johns Field, the largest undeveloped CO(2) and helium field in North America.

ON BEHALF OF THE BOARD OF DIRECTORS
(Signed)
Barry D Lasker, CEO

For further information: visit our Website at www.enhancedoilres.com; Retail investors please call Don Currie at 1-888-990-3551; Institutional investors please call Stephanie Feldman of EnerCom, Inc. at (303) 296-8834
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