Calgary, Alberta – May 25, 2006 - Yoho Resources Inc. (“Yoho” or the “Company”) today
reported financial and operating results for the second quarter ended March 31, 2006 on
Yoho is also pleased to announce results of its drilling program to date. Yoho has
participated in 27 (10.6 net) wells, with a 62.3% success ratio on a net basis. There are an
additional 5 (2.5 net) wells remaining to be drilled in the fiscal 2006 capital program.
The Company has participated in several discoveries within Yoho’s core area of the Peace
River Arch. In the central Peace River Arch, the Company participated at a 22.5% working
interest in a gas discovery which was put on-stream in February, 2006. This well is
currently producing 165 BOE per day net to the Company and follow up activity is currently
The Company also has drilled a discovery located in the southern Peace River Arch. This
well was completed and, although only production tested over a 24 hour period, production
rates exceeded 600 BOE per day. Yoho is currently negotiating access to production
facilities to accommodate this discovery and anticipates production from the well by July,
2006. Yoho will have a 70% working interest in the production from this well. Additional
development activity is also currently underway on this prospect.
2006 Drilling Results
(to May 25/06)
Current production is approximately 750 BOE per day, up from a base of 425 BOE per day
with an estimated 200 BOE per day currently behind pipe as a result of our 2006 drilling
Yoho anticipates existing its fiscal year at September 30, 2006 with production rates of
between 1,000 to 1,100 BOE per day. Due to delays in tieing in production through third-
party facilities, the average production rate budget for fiscal 2006 has been revised
downwards by 100 BOE per day to approximately 700 BOE per day.
Yoho expects to spend $22 to $23 million for fiscal 2006, slightly higher than the previously
announced $20 million, due to increased activity and substantially higher costs for field
services experienced during the year.
Yoho has continued to invest in “up front” costs of land and seismic. During the first six
months of fiscal 2006, Yoho has added 20,000 net acres to its undeveloped land inventory.
The undeveloped land base is currently 46,400 net acres, which provides the Company with
a solid inventory of drillable projects. Greater than 80% of the Company’s undeveloped
lands are located within the Peace River Arch. Yoho has also added 160 km of 2D seismic
and 60 km2 of 3D seismic to its data base. Land and seismic expenditures to date total
Yoho Resources Inc. is a Calgary based junior oil and natural gas company with operations
focusing in the Peace River Arch of North West Alberta. The common shares of Yoho are
listed on the TSX Venture Exchange under the symbol “YO”.
For more information please contact:
Wendy S. Woolsey
Vice President, Finance and CFO
Yoho Resources Inc.
Phone: (403) 537-1771
The TSX Venture Exchange has neither approved nor disapproved the contents of
this press release.
Certain statements regarding Yoho Resources Inc. include management’s assessments of future plans and
operations, may constitute forward-looking statements under applicable securities laws and necessarily involve
known and unknown risks and uncertainties, most of which are beyond Yoho's control. These risks may cause
actual financial and operating results, performance, levels of activity and achievements to differ materially from
those expressed in, or implied by, such forward-looking statements.
Such factors include, but are not limited to: the impact of general economic conditions in Canada and the United
States; industry conditions including changes in laws and regulations including adoption of new environmental laws
and regulations, and changes in how they are interpreted and enforced; competition; the lack of availability of
qualified personnel; fluctuations in commodity prices; the results of exploration and development drilling and
related activities; imprecision in reserve estimates; the production and growth potential of Yoho's various assets;
fluctuations in foreign exchange or interest rates; the ability to access sufficient capital from internal and external
sources; and obtaining required approvals of regulatory authorities.
Accordingly, Yoho gives no assurance nor makes any representations or warranty that the expectations conveyed
by the forward-looking statements will prove to be correct and actual results may differ materially from those
anticipated in the forward looking statements. Yoho undertakes no obligation to publicly update or revise any
Disclosure provided herein in respect of barrels of oil equivalent (boe) may be misleading, particularly if used in
isolation. A boe conversion ratio of 6 mcf to 1 bbl is based on an energy equivalency conversion method primarily
at the burner tip and does not represent a value equivalency at the wellhead.