Hi OU,
Your pick HAO-v...today's NR:
Mon 26 Mar 2001
Habanero Resources has been advised by Production Specialties Company of
Woodland, Calif., that the drill for the Pale Rider 3-26 well has reached a
depth of 11,210 feet. The company has also been advised that three gas
kicks have been encountered on the drill logs. These gas kicks were
encountered at 10,730 feet, 11,025 feet and 11,039 feet. The company is
encouraged by the gas kick at 10,730 feet as this may indicate a new gas
zone on the property. Upon reaching the 11,700-foot depth the operator will
pull out of the hole and run e-logs on the three zones encountered thus
far, and then intermediate casing will be set in place down to 11,700 feet,
and drilling will resume to test the Winters formation at 11,977 feet. The
drill is currently proceeding at 20 feet per hour.
This prospect is within one mile of the single largest gas field in
California, the Rio Vista gas field, that has produced over 3.5 trillion
cubic feet of gas to date. Other major gas fields in the area are Lindsey
Slough, 299 billion cubic feet, Bunker, 175 billion cubic feet, Maine
Prairie, 173 billion cubic feet, Millar Gas, 160 billion cubic feet, River
Island Gas, 156 billion cubic feet, Kirby Hill Gas, 54 billion cubic feet,
and Denverton Creek, 35 billion cubic feet.
Further to the news release in Stockwatch dated Feb. 16, 2001, the company
was unable to obtain regulatory approval in time to forward their initial
option payment on the Coalinga Nose prospect. The company is continuing to
negotiate to acquire a revised option agreement pending regulatory approval
of the property. |
