FIELD ACTIVITIES / GHP Exploration completing Gulf of Mexico Well
1998-02-12
HOUSTON, TEXAS
GHP Exploration Corporation (CDN:GHPX.U) announced today that completion
operations are underway on its West Delta 78 #1 well (News-August 11, 1997).
GRP has a 10% working interest (7.87% net revenue interest) in the well,
which was drilled to a true vertical depth of 16,925 feet and encountered
multiple potential pay sands.
The design of the production facilities is dependent on the results of
upcoming production testing. The actual results will be made available when
testing is completed, however, based on the evaluation of wireline logs,
rates on the order of 15 million cubic feet of gas per day and 1,000
barrels of condensate per day are a reasonable estimate for expected
performance.
The Company also announced that production casing has been successfully run
to total depth in its Sud Nefta NF-1 well in Tunisia as part of ongoing
completion operations (News-September 8, 1997). Additionally, GHP has been
notified that a drilling rig is currently being moved in on its South Fort
Stockton prospect (News-July 9, 1997) in West Texas and should spud by the
end of February.
GHP engages in the exploration for and development and production of crude
oil and natural gas in the United States and Internationally with operations
and interests in acreage in the Gulf of Mexico, West Texas, Egypt and
Tunisia. The Company currently has 17.7 million common shares outstanding.
(NO STOCK EXCHANGE, SECURITIES COMMISSION OR OTHER REGULATORY AUTHORITY HAS
APPROVED OR DISAPPROVED THE INFORMATION CONTAINED HEREIN.)
Contacts:
George H. Plewes - (604) 669-2525
Barry D. Lasker - (713) 626-9373
Internet: ghpexploration.com
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