Cunningham Energy Expanding Reach in WV Oilfields

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Pioneering the Shallow Horizontal Plays in West Virginia

"The Lions Paw project is the first of what we see as a new paradigm in shallow horizontal drilling with longer laterals and much increased cumulative production numbers for oil in the region."

Cunningham Energy LLC recently announced a milestone 20,000 barrels of cumulative oil production on two new shallow horizontal oil wells located in Clay County, West Virginia. The two wells, King #20H & King #21H, are part of the previously announced Lions Paw Program Pad. The shallow horizontal wells were drilled to a total depth of 7000 & 6900’ respectively, making them the longest shallow oil wells to date in the State of West Virginia. “We are of the opinion that shallow horizontal drilling has just crossed into the early innings of development and shows the potential to revitalize many forgotten areas of West Virginia, along with the cities and towns that surround them,” said the company’s principal and operating partner, Ryan Cunningham. “The Lions Paw project is the first of what we see as a new paradigm in shallow horizontal drilling with longer laterals and much increased cumulative production numbers for oil in the region. We have assembled some extremely prospective blocks of acreage containing wonderful production rock,” Mr. Cunningham went on to say.

Cunningham Energy has now finished drilling the last of four wells on the Lions Paw Project, King #18H, and expects all wells to be online shortly. The company has also permitted four shallow horizontal Weir Sand oil wells, which are to be drilled in Kanawha County, near the town of Clendenin this year. These new Weir Sand horizontal oil wells will be the first of their type in West Virginia.  Both “Matterhorn” and “Hammerhead” horizontal wells are targeting oil in the Weir Sand formation. Cunningham Energy also plans to utilize one of the company’s three Speedstar 185 top drive drilling rigs in conjunction with these new wells. Each well bore on this pad has been planned to be completed with multiple frac stages with varying spacing dependent on future wireline data. Ryan Cunningham further states, “The Weir Sand has shown exciting vertical logs in this area and it holds tremendous potential horizontally. Economic conditions in our industry point to lower cost production being the new normal and the Weir Sand horizontal can fit into that slot. We are economically advantaged in the Appalachian Basin for oil and gas production, with lifting costs less than $20/barrel on some of these new horizontal wells. We do not need high oil prices to achieve profitability for both ourselves and our investment partners. Our firm has been acquiring quality shallow oil and gas leases for years in anticipation of developing these plays.” Currently, the Matterhorn Project has been completely funded, with the Hammerhead nearing full funding. Productivity projections for the Weir Sandstone is comparable on a dollar to dollar total return basis with most shale oil plays in the country.  Drilling is slated for early December for both projects. Cunningham Energy is continuing to advance it’s pioneering of the shallow sandstone reservoirs in West Virginia with more wells in the planning stage.

Cunningham Energy LLC is a private independent production and exploration company based in Charleston, West Virginia. The company was formed in 2008 for the purpose of acquiring, exploring, and producing oil and gas in the Appalachian, Illinois, and Williston Basins. Since inception, Cunningham Energy has relied on past experience in parallel with the application of new technologies to succeed in the ever changing field of efficient energy production.

Contact: 
Jeff Vernon
Telephone: 817-370-0299 
Company Relations Email: info(at)cunninghamenergy(dot)com

Certain statements contained in this press release constitute "forward-looking statements" as defined by the
Securities and Exchange Commission. Such statements can be identified by the use of forward-looking terminology such as "believe," "expect," "may," "should," "up to," approximately," "likely," or "anticipates" or the negative thereof. These forward-looking statements are based on our current expectations, assumptions, estimates and projections for the future of our business and our industry and are not statements of historical fact. Such forward-looking statements include, but are not limited to, statements about our expectations regarding our financing, our future operating results, our future capital expenditures, our expansion and growth of operations and our future investments in and acquisitions of oil and natural gas properties. We have based these forward-looking statements on assumptions and analyses made in light of our experience and our perception of historical trends, current conditions, and expected future developments. However, you should be aware that these forward-looking statements are only our predictions and we cannot guarantee any such outcomes. Future events and actual results may differ materially from the results set forth in or implied in the forward-looking statements. The following factors, among others, could cause actual results to differ from those set forth in the forward-looking statements: general economic and business conditions; exposure to market risks in our financial instruments; fluctuations in worldwide prices and demand for oil and natural gas; fluctuations in the levels of our oil and natural gas exploration and development activities; our ability to find, acquire and develop oil and gas properties, including the ability to develop the Matterhorn prospects; risks associated with oil and natural gas exploration and development activities; competition for raw materials and customers in the oil and natural gas industry; technological changes and developments in the oil and natural gas industry; legislative and regulatory uncertainties, including proposed changes to federal tax law and climate change legislation, and potential environmental liabilities; our ability to continue as a going concern; and our ability to secure additional capital to fund operations. Additional factors that may affect future results are contained in our filings with the Securities and Exchange Commission ("SEC") and are available at the SEC's web site http://www.sec.gov. Cunningham Energy LLC disclaims any obligation to update and revise statements contained in this press release based on new information or otherwise. SOURCE Cunningham Energy LLC

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Jeff Vernon
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