Cirrus Energy Corporation announces Netherlands operational update

CALGARY, June 15 /CNW/ - Cirrus Energy Corporation (TSXV: CYR.V) is pleased to announce the following operational update regarding ongoing development activities in our wholly owned subsidiary, Cirrus Energy Nederland B.V. ("Cirrus") in The Netherlands.

M7-A Project (Cirrus 42.75%, operator)

The M7-A platform has been successfully installed by the vessel Stanislav Udin operated by Seaway Heavy Lifting. The Noble Lynda Bossler drilling rig is anticipated to return on contract to Cirrus in early July and will drill the M7-A01 development well from the M7-A platform. This well has a prognosed drilling duration of 50 days. First gas from the M7-A field remains on target for early in the fourth quarter of 2009.

L8-D Project (Cirrus 25.5%, operator)

Good progress continues with the acquisition of the L11b-A platform and L11b licence by the L8-D Unit partners which is expected to be completed during August 2009. First gas from the L8-D field remains on target for the fourth quarter of 2009, following tie-in of the existing L11b-A06 well.

Following completion of the M7-A01 development well, the Noble Lynda Bossler drilling rig is planned to be moved to the L11b-A platform to drill the deviated L11b-A07 appraisal/development well which is expected to be completed during November 2009. The rig will be subsequently released without further drilling commitments. Assuming success, the L11b-A07 well is expected to start production in January 2010.

Cirrus President and CEO David Taylor comments; "Cirrus remains on track to commence production from both the M7-A and L8-D fields during the fourth quarter of 2009 which will mark a significant milestone in the company's growth. Furthermore, with the indexation of Dutch gas prices to oil, the recent strength in oil prices will translate into higher gas prices later in 2009 with a commensurate positive impact on Cirrus's future revenues."

Cirrus Energy Corporation is an international oil and gas company headquartered in Calgary and has approximately 78.9 million fully diluted common shares outstanding.

Forward-Looking Statements

This press release may include forward-looking statements including opinions, assumptions, estimates and expectations of future production, cash flow and earnings. When used in this document, the words "anticipate", "believe", "estimate", "expect", "intent", "may", "project", "plan", "should" and similar expressions are intended to be among the statements that identify forward-looking statements. Forward-looking statements are subject to a wide range of risks and uncertainties, and although the Company believes that the expectations represented by such forward-looking statements are reasonable there can be no assurance that such expectations will be realized. Any number of important factors could cause actual results to differ materially from those in the forward-looking statements including, but not limited to, the volatility of oil and gas prices, the ability to implement corporate strategies, the state of domestic capital markets, the ability to obtain financing, changes in oil and gas acquisition and drilling programs, operating risks, production rates, reserve estimates, changes in general economic conditions and other factors more fully described from time to time in the reports and filings made by Cirrus with securities regulatory authorities.

    
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Contacts

David Taylor
President and Chief Executive Officer
Glenn Gradeen
Executive Vice President and Chief Operating Officer
Cirrus Energy Corporation
Suite 208
5 Richard Way S.W.
Calgary
Alberta
T3E 7M8
Canada
Website: www.cirrusenergy.ca
Telephone: (403) 216-5030
Facsimile: (403) 265-9530