Clayton Williams Energy (CWEI) OIL Message Board

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Gold/Mining/Energy : Clayton Williams Energy (CWEI) OIL

CWEI 131.90

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Apr 25 5:00 PM EST

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To: Buzz Mills who wrote (516)	3/20/1997 11:20:00 PM
From: Buzz Mills	of 1017

Some early news on the Zackson/Broughton pinnacle reef well being drilled 9 miles north, and slightly east, of CWEI's property: Earl Schmidt mailed me a copy of the Oil and Gas Journal article (Part 2) dated March 10, 1997 on the upper Jurassic Cotton Valley pinnacle reef exploration. In it was the following information regarding the Broughton/Zackson Rachui well: "The JV (Broughton and Zackson) through its Zackson Resources operating company, is using VSP (Vertical Seismic Profiling) in the Verna Rachui, being drilled in Robertson County, about 400 ft south and west of Marathon's original 1 Rachui dry hole. So far Zackson has penetrated about 400 ft of reef " and we're looking to see how much deeper it may go." Hatch said. I sent an Email to Lajuanda Holder asking if CWEI had any further information on the well (since the O&G Journal info is probably more than two weeks old)--here is what I got back from Lajuanda: "I heard Mr. Williams say yesterday that the rumor is that they have encountered reef and are in the completion stage and the well is expected to be commercial but no news regarded the amount of reserves they've encountered. We expect to know something soon." This preliminary news is very encouraging--up until this time the closest successful pinnacle reef well was 24 miles north and slightly east of CWEI's property; this new well is only 9 miles north and slightly east . The successful completion of the Rachui will lend much more credibility to CWEI's Cotton valley prospects. Another pinnacle reef well, named the George Savell, is being drilled by Marathon in very close proximity to the Rachui well (I don't have any info on how far along they are). The pinnacle reef play appears to be heading south towards CWEI property. Pinnacle Reef wells are prodigious in the amount of gas they can produce. Clayton Williams Jr. said that one pinnacle reef well will grow the company by two-thirds. The pinnacle reef wells are commonly referred to as company makers by many of the companies in the Cotton Valley play.

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