Curion Ventures Corp CUV
Shares issued 14,201,265 Aug 28 close $0.16
Tue 29 Aug 2000 News Release
See Berkshire International Mining Ltd (BKR) News Release
Mr. David Patterson reports
Further to the news release dated Aug. 3, 2000, David Patterson, chairman
of the Ekho project consortium, provides the following progress report on
the Ekho project.
The Ekho participants recently approved a program to run slotted liner
across the Vedder and Phacoides to complete and test the Ekho No. 1. Due to
hole conditions encountered, Tri-Valley Oil & Gas Co., operator of the Ekho
project, was only able to run a slotted liner across the Vedder, which in
TVOG's judgment, constituted 90 per cent of the potential of the open hole.
TVOG considered that the flow rates encountered were not sufficient, and
that to obtain improved rates from the Vedder interval (18,015 feet to
18,440 feet) it would be necessary to hydraulically fracture that interval.
Accordingly, TVOG conducted a very preliminary pressuring-up and breakdown
procedure to ascertain the viability of the concept of hydraulic
fracturing. Preliminary testing proved very positive with regard to being
able to successfully hydraulic fracture.
Due to the depth of the Ekho No. 1, initial engineering planning indicates
that a hydraulic fracturing program should be done in two stages, a test
frac stage and a final frac stage. The test frac stage is estimated to cost
$225,000 (U.S.) and a final frac (if the test frac proves successful) of
$1.5-million (U.S.) It is possible that the test frac could itself
stimulate the well. There are sufficient funds available to carry out the
test frac.
The test frac is currently designed to reach out and create a fracture that
will extend on an approximate 500-foot radius around the well, with Ekho
No. 1 being in the centre. Data strongly suggest that any fracture system
encountered will be observed in the rate and pressure reactions. The
results of the test frac will be used to design the final frac.
According to TVOG, most of the production in the Rocky Mountains below
plus/minus 7,500 feet, and two-thirds of the deep production in Oklahoma
and Texas, would not exist without hydraulic fracturing. There are examples
of the Frontier Cretaceous sands in Wyoming at 18,000 feet, and the Natomas
and the Wamaley sands in eastern Oklahoma at 18,000 feet where fracturing
resulted in commercial wells, although commercial production did not exist
before fracturing.
All the Ekho project participants have approved the program to carry out
the test frac, which is expected to commence by mid-September.
Seven Canadian Venture Exchange resource companies and various individual
investors are financing the Ekho No. 1. The Ekho consortium includes
Berkshire International Mining Ltd. (24.948 per cent), Aster Ventures Corp.
(20 per cent), Curion Ventures Corp. (20 per cent), CVL Resources (10.955
per cent), Consolidated Bradbury International Equities (5 per cent),
Curlew Lake Resources (5 per cent), Prairie Pacific Energy Corporation (5
per cent), and several individual investors own the remaining 9.097 per
cent.
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