Yoho Resources Inc. Announces Successful Duvernay Drilling at Kaybob, Alberta

Yoho Resources Inc. Announces Successful Duvernay Drilling at Kaybob, Alberta 
CALGARY, ALBERTA -- (Marketwire) -- 02/04/13 -- Yoho Resources Inc.
("Yoho" or the "Company") (TSX VENTURE:YO) is pleased to provide an
update of Duvernay drilling and completion operations at Kaybob,
Alberta. 
Kaybob, Alberta 
At Kaybob, Yoho operated the drilling and completion of the first two
horizontal Duvernay development wells from a pad site at 15P-16-62-21
W5 targeting the Devonian Duvernay shale. The first well located at
14-21-62-21 W5 (75% working interest) was drilled to a measured depth
of 4,943 meters. The horizontal lateral was 1,536 meters in length
within the Duvernay shale formation. The well was drilled and cased
over 33 days at a cost of approximately $4.5 million. Well completion
operations commenced in late December 2012 using a "plug and perf"
completion method. The well was fracture stimulated in 15 stages with
51 perf clusters using 2,217 tonnes of sand and 18,940 m3 of
completion fluid. Following the fracs, the pumpdown bridge plugs were
drilled out with a coiled tubing unit and production tubing was
snubbed in. The total estimated cost of the completion is
approximately $6.6 million, bringing the total cost to drill,
complete and test the well at approximately $11.1 million. 
During initial clean-up, the 14-21 well flowed at restricted rates of
up to 8.5 MMcf (239.4 e3m3) per day (approximately 2,508 boe per day
including condensate and natural gas liquids). At the end of the 86
hour flow period, the well was producing at a rate of 6.3 MMcf (177.4
e3m3) per day (approximately 1,860 boe per day including condensate
and natural gas liquids) up production tubing at flowing tubing
pressures of 8,912 kPa and flowing casing pressure of 8,812 kPa. In
addition to the natural gas production at the end of the flow period,
the well was producing field condensate at a rate of 665 barrels (103
m3) per day or 106 barrels of field condensate per MMcf of raw gas.
Additional natural gas liquids are anticipated to be recovered at the
gas processing facility. Total liquids yield, including both field
condensate and plant liquids, is estimated to be 155 barrels per MMcf
of raw gas. At the end of the flow period, approximately 11,910
barrels (1,880 m3) (10%) of completion load fluid had been recovered.
Total fluid production rate (completion load fluid and hydrocarbon
liquids) at the end of the test period was 2,667 barrels per day, of
which 75% was completion load fluid. 
The second well located at 1-16-62-21 W5 (75% working interest) was
drilled to a measured depth of 4,355 metres. The horizontal lateral
was 983 metres in length within the Duvernay shale formation. This
well was planned as a substantially shorter lateral due to regulatory
spacing regulations. The well was drilled and cased over 32 days at a
cost of approximately $4.2 million. Well completion operations also
commenced in late December 2012 using a "plug and perf" completion
method. The well was fracture stimulated in 11 stages with 38 perf
clusters using 1,382 tonnes of sand and 13,031 m3 of completion
fluid. Following the fracs, the pumpdown bridge plugs were drilled
out with a coiled tubing unit and production tubing was snubbed in.
The total estimated cost of the completion is approximately $4.8
million, bringing the total cost to drill, complete and test the well
to be approximately $9.0 million.  
During initial clean-up, the 1-16 well flowed at restricted rates of
up to 3.5 MMcf (98.6 e3m3) per day (approximately 913 boe per day
including condensate and natural gas liquids). At the end of the 90
hour flow period, the well was producing at a rate of 2.3 MMcf (65
e3m3) per day (approximately 590 boe per day including condensate and
natural gas liquids) up production tubing at flowing tubing pressures
of 2,479 kPa and flowing casing pressure of 2,479 kPa. In addition to
the natural gas production at the end of the flow period, the well
was producing field condensate at a rate of 155 barrels (24.6 m3) per
day or 67 barrels of field condensate per MMcf of raw gas. Additional
natural gas liquids are anticipated to be recovered at the gas
processing facility. Total liquids yield, including both field
condensate and plant liquids, is estimated to be 120 barrels per MMcf
of raw gas. Yoho anticipates the liquids yield will increase as
additional completion fluid is recovered from the wellbore. At the
end of the flow period, approximately 8,930 barrels (1,420 m3) (12%)
of completion load fluid had been recovered. Total fluid production
rate (completion load fluid and hydrocarbon liquids) at the end of
the test period was 770 barrels per day, of which 80% was completion
load fluid. 
Yoho is pleased with the overall well costs from this multi-well pad
operation, which have been reduced from the cost to drill and
complete previous single well operations. The average cost to drill
and complete these two wells is approximately $10.0 million per well.
Yoho is also very encouraged by the early flow rates and flowing
pressures of these wells, given that both wells continue to flow
large volumes of completion load fluid with the natural gas and
condensate. These two wells will be shut-in for one month to obtain
pressure information and to allow the completion water to absorb into
the formation. This absorption period, or "soak time", has resulted
in higher flow rates and flowing pressures after a period of shut-in
time in previous wells drilled to date in the Duvernay formation. 
Yoho also conducted a mircoseismic survey in an offsetting vertical
well during the completion of these two wells. Results from this
microseismic survey, combined with improved frac techniques employed
in these two wells, will be incorporated into completion design of
future Duvernay wells.  
Also at Kaybob, construction of an 11.2 kilometer 8" pipeline from
the 15P-16 padsite to the SemCams Tony Creek trunk line has been
completed and the pipeline commissioned. Yoho is in the process of
placing the 13-22-62-21 W5 horizontal Duvernay well (press release
dated February 14, 2012) on-stream and anticipates having stabilized
production rates within the next two weeks. 
About Yoho  
Yoho Resources Inc. is a Calgary based junior oil and natural gas
company with operations focusing in West Central Alberta and
northeast British Columbia. The common shares of Yoho are listed on
the TSX Venture Exchange under the symbol "YO".  
This press release shall not constitute an offer to sell or a
solicitation of an offer to buy the securities in any jurisdiction.
The common shares of Yoho will not be and have not been registered
under the United States Securities Act of 1933, as amended, and may
not be offered or sold in the United States, or to a U.S. person,
absent registration or applicable exemption therefrom.  
Cautionary Statements 
Special Note Regarding Forward-Looking Information 
In the interest of providing readers with information regarding Yoho,
including management's assessment of the future plans and operations
of Yoho, certain statements contained in this news release constitute
forward-looking statements or information (collectively
"forward-looking statements") within the meaning of applicable
securities legislation. Forward-looking statements are typically
identified by words such as "anticipate", "continue", "estimate",
"expect", "forecast", "may", "will", "project", "could", "plan",
"intend", "should", "believe", "outlook", "potential", "target" and
similar words suggesting future events or future performance. In
particular but without limiting the foregoing, this news release
contains forward-looking statements pertaining to the following:
anticipated additional incremental liquid recoveries from the gas
processing facility; the Company's intention to shut-in recently
completed wells and the anticipated benefits therefrom; additional
anticipated liquids yields after completion fluid is recovered;
completion designs of future Duvernay wells; and total estimated
costs for drilling, completing and testing the two described wells.  
With respect to forward-looking statements contained in this
document, Yoho has made a number of assumptions. The key assumptions
underlying the aforementioned forward-looking statements include
assumptions that: (i) facilities in the area will remain operational
and have the capacity and ability to recover additional liquid yields
from the Company's production; (ii) past performances and recovery
techniques deployed at previous wells in the area will prove
beneficial to the wells described herein; (iii) Yoho will be able to
obtain equipment in a timely manner to carry out its planned
activities; and (iv) Yoho will have sufficient financial resources
with which to conduct its anticipated operations. Certain or all of
the forgoing assumptions may prove to be untrue. 
Certain information regarding Yoho set forth in this document may
constitute forward-looking statements under applicable securities
laws and necessarily involve substantial known and unknown risks and
uncertainties. These forward-looking statements are subject to
numerous risks and uncertainties, certain of which are beyond Yoho's
control, including without limitation, risks associated with oil and
gas exploration, development, exploitation, production, marketing and
transportation, reliance on third parties, loss of markets,
volatility of commodity prices, environmental risks, inability to
obtain drilling rigs or other services, capital expenditure costs,
including drilling, completion and facility costs, unexpected decline
rates in wells, wells not performing as expected, delays resulting
from or inability to obtain required regulatory approvals and ability
to access sufficient capital from internal and external sources, the
impact of general economic conditions in Canada, the United States
and overseas, industry conditions, changes in laws and regulations
(including the adoption of new environmental laws and regulations)
and changes in how they are interpreted and enforced, increased
competition, the lack of availability of qualified personnel or
management and fluctuations in foreign exchange or interest rates.
Readers are cautioned that the foregoing list of factors is not
exhaustive. 
Yoho's actual results, performance or achievement could differ
materially from those expressed in, or implied by, these
forward-looking statements and, accordingly, no assurance can be
given that any of the events anticipated by the forward-looking
statements will transpire or occur, or if any of them do so, what
benefits that the Company will derive therefrom. All subsequent
forward-looking statements, whether written or oral, attributable to
the Company or persons acting on its behalf are expressly qualified
in their entirety by these cautionary statements. Additional
information on these and other factors that could affect Yoho's
operations and financial results are included in reports on file with
Canadian securities regulatory authorities and may be accessed
through the SEDAR website (www.sedar.com) or Yoho's website
(www.yohoresources.ca). 
The forward-looking statements contained in this document are made as
at the date of this news release and Yoho does not undertake any
obligation to update publicly or to revise any of the included
forward-looking statements, whether as a result of new information,
future events or otherwise, except as may be required by applicable
securities laws. 
BOE Equivalency  
Barrel of oil equivalents or boes may be misleading, particularly if
used in isolation. A boe conversion ratio of 6 Mcf: 1 bbl is based on
an energy equivalency conversion method primarily applicable at the
burner tip and does not represent a value equivalency at the
wellhead. Given the value ratio based on the current price of crude
oil as compared to natural gas is significantly different from the
energy equivalency of 6 mcf: 1 bbl, utilizing a conversion ratio of 6
Mcf: 1 bbl may be a misleading indication of value. 


 
Selected Definitions:                                                       
                                                                            
bbl     means barrel                                                        
boe     means barrel of oil equivalent of natural gas and crude oil on the  
        basis of 1 boe for 6 Mcf of natural gas (this conversion factor is  
        an industry accepted norm and is not based on either energy content 
        or current prices)                                                  
boe/d   barrel of oil equivalent per day                                    
e3m3    means thousands of cubic metres                                     
kPa     means kilopascals                                                   
m3      means cubic metres                                                  
Mcf     means thousand cubic feet                                           
MMcf    means million cubic feet                                            

 
Neither TSX Venture Exchange nor its Regulation Services Provider (as
that term is defined in the policies of the TSX Venture Exchange)
accepts responsibility for the adequacy or accuracy of this release. 
Contacts:
Yoho Resources Inc.
Wendy S. Woolsey, CA
Vice President, Finance and CFO
(403) 537-1771
www.yohoresources.ca