Bengal Energy Announces Chookola-1 Exploration Well Update

Sep 22, 2018

CALGARY, Alberta, Sept. 21, 2018 (GLOBE NEWSWIRE) -- Bengal Energy Ltd. (TSX: BNG) ("Bengal" or the "Company") today announces that drilling of the Chookola-1 exploration well, located in the Authority to Prospect 752 ("ATP 752") within the Barta sub-block, has been completed. Following a review of the well logs, the ATP 752 joint venture parties have decided to plug and abandon the well. The well encountered oil shows at multiple levels; however, no commercial pay was identified at this location. This exploration well is located 11 km to the southwest of the Cuisinier field, and is outside the Petroleum Lease 303 ("PL 303"). The Chookola-1 well is also outside of mapped Murta pool Proved ("1P"), Proved plus Probable ("2P") and Proved plus Probable plus Possible ("3P") reserve areas in in the Cuisinier Field, as presented in the GLJ Petroleum Consultants Ltd. independent reserve assessment and evaluation prepared with an effective date of March 31, 2018 and therefore is not expected to have any negative impact on the existing reserves booked for Cuisinier.

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