Return Energy Announces Casing of Initial Well and Commencement of Drilling at Second Well at Rycroft

CALGARY, Feb. 20, 2018 /CNW/ – Return Energy Inc. (“Return” or the “Company”) (TSX-V: “RTN”), through its wholly-owned subsidiary, Winslow Resources Inc. (“Winslow“), is pleased to announce that drilling operations at its Rycroft 100/14-27-076-06W6/00 well have wrapped up and production casing has been run in the wellbore. The 14-27 well is a step-out well to Winslow’s 100/10-27-076-06W6/00 oil well that currently defines the Rycroft Charlie Lake “S” oil pool, north of Grande Prairie, Alberta.

Return CEO Ken Tompson stated “We’re happy to report that our 14-27 vertical well encountered the Triassic Charlie Lake reservoir as predicted, with open hole well logs and drill cuttings confirming the presence of hydrocarbons, thus validating our interpretation and mapping. The rig has now moved to the 100/06-34-076-06W6/00 location, the second conventionally-drilled well (not horizontal) in the program, where drilling operations have commenced. Targeting the same Charlie Lake zone, 06-34 is expected to take roughly one week to drill. Production testing will commence at 14-27, and at 06-34 if warranted, at the conclusion of drilling operations at 06-34.”

Return, through Winslow, has a 100% working interest in this drilling program.

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Forward-Looking Statements. This news release contains forward-looking statements and information. More particularly, this document contains statements and information concerning the timing of drilling. Forward-looking information is frequently characterized by words such as “anticipate”, “plan”, “expect”, “project”, “intend”, “will”, “believe”, “anticipate”, “estimate”, “scheduled”, “potential”, or other similar words, or statements that certain events or conditions “may”, “should” or “could” occur. The forward-looking statements and information are based on certain key expectations and assumptions made by Return, including expectations and assumptions concerning availability of equipment and receipt of required regulatory approval. Although Return believes that the expectations and assumptions on which the forward-looking statements are based are reasonable, undue reliance should not be placed on the forward-looking statements because Return can give no assurance that they will prove to be correct. Since forward-looking statements address future events and conditions, by their very nature they involve inherent risks and uncertainties. Actual results could differ materially from those currently anticipated due to a number of factors and risks. These include, but are not limited to, risks that required regulatory approvals are not obtained and that specific equipment is delayed or not available. The reader is cautioned that assumptions used in the preparation of such information, although considered reasonable by the Company at the time of preparation, may prove to be incorrect and readers are cautioned not to place undue reliance on forward-looking information, which speaks only as of the date hereof. The Company does not undertake any obligation to release publicly any revisions to forward-looking information contained herein to reflect events or circumstances that occur after the date hereof or to reflect the occurrence of unanticipated events, except as may be required under applicable securities laws.

SOURCE Return Energy Inc

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