ferni: Just out-- interpretation anyone?
Tom D.
8/30/99 - Commencement of Drilling Operations Gillsburg Field
WESTFORT ENERGY LTD ("WT-T;WSFTF-L") - Commencement of Drilling Operations-Gillsburg Field
Whitney Pansano, President of Westfort Energy, Ltd., symbol WT on the Toronto Stock Exchange, announced that the company has commenced operations to drill the second of a series of planned wells - the Elaine Hilburn No. 1 (formerly referred to as Williams No. 1) well in Gillsburg Field, Amite County, Mississippi.
Location has been prepared, well spudded Sunday, August 29th, and 40 feet of conductor pipe will be set this day. Spud rig will then move off the location. Patterson Drilling Company, Kilgore, Texas is scheduled to begin moving the same rig used to drill Westfort's recent well at Pelahatchie Field to the Hilburn location, rig up and start drilling operations immediately. It is expected that drilling time will take approximately 25 days.
The Elaine Hilburn No. 1 well will be drilled to a total depth of 11,850 feet. The two primary objectives are the Upper and Lower Tuscaloosa members that have produced throughout the field as well as numerous sand stringers that appear both above and below the Upper Tuscaloosa sand. The Upper Tuscaloosa sand has produced in excess of 3.5 million barrels of oil in the field. Independent engineering studies indicate that there remain 1.6 million barrels of oil to be produced in the Upper Tuscaloosa sand. The Lower Tuscaloosa sand has produced 3.2 million barrels of oil in the field. Engineering studies indicate that the Lower Tuscaloosa sand could contain significant amounts of remaining recoverable reserves at structural high positions.
The proposed well is in the same drilling unit as the Exxon, No.1 Williams well which had about 24 net feet of pay in the Lower Tuscaloosa sand and 28 feet in the Upper Tuscaloosa and produced 57,210 barrels of oil and 679,493 barrels of oil respectively. Well records indicate that the Lower Tuscaloosa sand was abandoned prematurely due to mechanical problems. Based on log correlations, and maps prepared by several geologists, the location should fall on the structural high for both objectives. TEL: (604) 687-9887
Grant Young TEL: (601) 933-0890
Jean Williams, Executive Vice-President
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