Nextraction Announces Update to NI 51-101 Reserve Report for North Pinedale Project

- July 28th, 2010

Nextraction Energy Corporation (TSX VENTURE:NE) announced that MHA Petroleum Consultants LLC has completed an update to its National Instrument technical report (NI-51-101) estimating reserves and future net revenues for the Company’s North Pinedale Project, located on the crest of the Pinedale Anticline in Sublette County, Wyoming.

Nextraction Energy Corporation (TSX VENTURE:NE) announced that MHA Petroleum Consultants LLC has completed an update to its National Instrument technical report (NI-51-101) estimating reserves and future net revenues for the Company’s North Pinedale Project, located on the crest of the Pinedale Anticline in Sublette County, Wyoming.

The press release is quoted as saying:

Nextraction is selling gas and condensate from its first successful well, the Nobel #6-24, that is currently undergoing initial flow back rate tests. The initial production tests from the Pinedale well provide information to enhance the reserve estimates for future updates to the reserve report. Nextraction holds 3,624 acres in a joint venture with Vantage Energy LLC (“Vantage”), an experienced operator in the region.

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Click here to access Nextraction Energy Corporate Site

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