Arkanova Energy Corp. (AKVA.OB) Appoints Industry Veteran as Field Manager to Head Schlumberger Data-Supported Reactivation and Infield Drilling...

Arkanova Energy Corp. (AKVA.OB) Appoints Industry Veteran as Field Manager to Head Schlumberger Data-Supported Reactivation and Infield Drilling Program

Arkanova Energy Corp., www.arkanovaenergy.com – the Woodlands, TX-based oil and gas developer with three key North American sites in its portfolio, detailed the recent hiring of 15-year industry veteran Lance Nelson today in a press release.

Nelson will be field manager of AKVA’s Two Medicine Cut Bank Sand Unit (TMCBSU – Cut Bank, Montana) and supervise the Company’s initiation of their Reactivation and Infield Drilling Program, which is being supported by Schlumberger’s Data and Consulting Services (DCS) and is designed to put eight wells back into service, in addition to reactivating a production battery in the field’s south portion (due for completion Aug. 2010).

The first two wells of the infield drilling part of the program are permitted; Tribal Max 1-2817 is projected to begin drilling this summer, targeting an initial vertical depth of 6k’ into the Bakken Formation at the Exshaw Shale (Alberta Basin Bakken), Three Forks/Sanish (Middle Bakken) and Lodgepole (Southern Alberta Basin) formations.

Anticipated to be finished by a 2-3k’ horizontal run into the Lower Cut Bank Sand, the success of Tribal Max 1-2817 to produce from the Bakken will determine the spud date for the permitted well Tribal Max 2-2818.

CEO of AKVA, Pierre Mulacek, noted that – barring any ugly turns in Montana’s weather – the data from Schlumberger’s Phase Studies should prove instrumental in enhancing production and exploration efforts moving forward, and he called the data a “road map” for what is anticipated to be a very successful campaign of drilling undertaken as 2010 progresses.

Nelson has worked for some of the top companies in the industry, including Exxon, Halliburton, Pathfinder Energy Services and Total, and has extensive experience drilling in the Gulf Coast and Rocky Mountains (including Montana), as well as developing projects abroad in Australia, Brazil, Qatar and the UK. Nelson holds a B.S. in Chemical Engineering from South Dakota School of Mines & Technology.

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