Exploration & Production | Drilling & Completions | Well Lateral Length | Drilling Program

Yoho Completes Kaybob Well, Possible Sale of Duvernay Property

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Yoho Resources Inc. has provided an operational update of its drilling operations at Kaybob, Alberta.

Operations Update

Kaybob Duvernay

During fiscal Q4, Yoho continued with its Duvernay drilling program at Kaybob.

Yoho has finished the drilling of a horizontal well at 01-13-59-19 W5 at a 100% working interest.

The 01-13 well was drilled to a total depth of 5,081 meters, with a lateral length of 1,755 meters.

Completion operations are currently being planned for the well.

Two additional non-operated wells are currently being drilled, one well at a 33.33% working interest and the second well at a 50% working interest. Both wells are expected to be finished drilling operations in November 2014, with completion and tie-in operations to follow.

Also during September/October 2014, completion operations were conducted on a well at 02-25-62-22 W5 (50% working interest). The well was flowing at the end of a 111 hour test at 4 Mmcf per day and 577 barrels of condensate per day. The Company expects the equipping and tie-in of this well will be completed in December 2014.

Financial Advisor Appointment

Yoho also announces that it has appointed BMO Capital Markets to act as its exclusive financial advisor in conjunction with a strategic review of the Company's Duvernay assets.

This review may include third party proposals for the disposition or other transactions involving the Company's Duvernay assets. There is no guarantee that any proposal may be obtained in this regard nor is there a timeline for completion of this review.

Yoho does not intend on disclosing developments with respect to this review unless and until a specific transaction has been approved or it is otherwise determined that disclosure is necessary or appropriate.