Hilton Petroleum Ltd -
Hilton Petroleum drilling operations on schedule
Hilton Petroleum Ltd
HTP
Shares issued 18,382,792
1999-10-08 close $5.2
Tuesday Oct 12 1999
Mr. Donald Busby reports
In order to eliminate speculation and rumours on the Internet, management wishes
to provide this update on drilling operations in California.
The East Lost Hills Berkley No. 1 well is drilling ahead, and as at Oct. 11, 1999,
is at a depth of 13,500 feet. The well is on schedule and on budget.
The Bellevue No.1R-ST No.3 well is in the final stages of preparation for a
production test. The test is scheduled to commence the third week of October
and is expected to take two weeks. A news release will be issued on completion
of the analysis of the test results.
The Cal-Canal well is drilling ahead and, as at Oct. 11, 1999, is at a depth of
14,250 feet, targeting the Temblor package of sands. Gas has been encountered
in the formations approximately 200 feet above the expected top of the Temblor.
The Temblor formation has six potential sand packages: the 1st, 2nd and 3rd
Carneros, the Aqua, the Bloemer Phacoides and the Oceanic. The 1st Carneros is
in the transition between shale and sand. Historically this is the poorest quality
sand package.
The total Temblor package is expected to be approximately 4,000 feet from the
top to bottom, and will take approximately six to eight weeks to drill through and
case. Not until the complete Temblor formation is drilled, logged and tested will
the results at Cal-Canal be fully known.
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