EGPI/Firecreek, Inc. Announces Progress on Third Well for Its Ten Mile Draw Project
EGPI/Firecreek, Inc. (OTCBB:EFCR) announced today the progress for its third well of the Company's multi-well drilling program in the Ten Mile Draw (TMD) prospect area in Green River Basin, Wyoming.
The Company's field operator and partner Newport Oil Corporation reported that the first of a two-step fracing procedure was successfully accomplished first up for the Almond formation in the 13-9 well during the last week of September on the 27th. As part of the remediation workover program for the well, initial indications are very good, as the well was flowing back on its own into some good reservoir pressure.
The Company further reports that Newport Oil has proceeded to bridge the Almond formation and begin the second step in its workover program by fracing the upper Lewis formation with a fluid sand gel. The process is expected to be completed within the next several days.
As part of the final process towards bringing the TMD 13-9 well online, the operator will clean up the well with sand bail and swab the fluid, in order to get it onto production as soon as possible.
Newport Oil Corporation President John Bruynell, operator for the project, stated, "I believe we're over the biggest hurdle at this point, and it looks like we've made the well; now we will work expeditiously to maximize with the completion of the Lewis formation and get it onto production."
EGPI Firecreek, Inc., reported that it is excited regarding the progress and the initial reports on the wells workover program for its third well in the TMD system. The Company looks forward to seeing the final results for the 13-9. EFCR is currently taking steps towards facilitating its new multi-well drilling program in the area.
The Company also stated that it expects to provide an update in the very near term regarding the advancement of its proposed projects located in the Ukraine and in Florida.
EGPI/Firecreek, Inc. through its Firecreek unit is focused on oil production with an emphasis on acquiring existing oil fields with proven reserves, the rehabilitation of potentially high throughput oilfields, resource properties and inventories on an international basis. Other companies in the oil sector include Pantina Oil and Gas Inc. (POG), Frontier Oil Inc. (FTO) and Cabot Oil & Gas Inc. (COG). |
