Fairchild International Reports Positive E-log Indications on Coalinga
Property
VANCOUVER, British Columbia, Aug. 20 /PRNewswire/ -- Fairchild International Corporation (OTC Bulletin Board:
FRCD - news) is pleased to announce that that preliminary e-log results have come back positive. The operator has indicated
that the initial e-logs, which have only tested the primary target of the Brown Mountain Sands, indicated potential net pay of
between 50-100 feet. At this point, we have experienced some delays in testing the extent of the secondary target of the
Moreno Sands. We are hoping that this zone will be tested within 3-5 days. The operator felt that the gas shows were quite
strong based on the fact that there is no subsidence or reductions in the strength seen at the surface and believes that upon
completion of the final logging, these shows will coincide with the majority being productive. At this point it is still
preliminary, but based on the data received so far, we may be able to classify the Coalinga Nose 1-1 Well a discovery well.
An interpretation of the 3-D seismic data has defined four positive amplitude anomalies that could represent potential
gas-bearing structural-stratigraphic reservoirs at the site which is located in the San Joaquin Basin near the historic
community of Coalinga. This property is situated between a 503-million-barrel oil field and the Kettleman Hills field that has
produced 2.9 Trillion Cubic Feet of natural gas and 458-million barrels of oil. To date, US $3-million has been spent on the
property including a 3-D seismic survey.
The interpreted seismic data appears to reproduce structural and stratigraphic features that control oil and gas production in
three other fields in the region including the Coalinga Nose portion of the East Coalinga Extension.
The company has a five percent working interest in the Coalinga Nose project. Other participants include a prominent
NASDAQ company which has an impressive track record in oil and gas discoveries in California and Micron Enviro
Systems Inc. (OTC Bulletin Board: MSEV - news)
ABOUT FAIRCHILD INTERNATIONAL
Fairchild International Corporation is a fully-reporting U.S. publicly-listed company. Besides the California gas project
known as the Coalinga Nose Property, it has a major mineral exploration project comprising more than 300,000-acres in the
Canadian province of Manitoba. The company's holdings are located in northeastern Manitoba where one of the world's
richest nickel deposits was discovered by Inco Ltd. and where major mining companies such as DeBeers, BHP, Kennecott
and Falconbridge are actively exploring for diamonds, nickel and Platinum Group Metals.
Website: fairchildinternational.com E-mail: ir@fairchildinternational.com, Toll Free - 1-888-864-7372.
The Private Securities Litigation Reform Act of 1995 provides a safe harbor for forward-looking statements made on behalf
of the Company. All such forward-looking statements are, by necessity, only estimates of future results and actual results
achieved by Fairchild may differ materially from these statements due to a number of factors. Fairchild assumes no
obligation to update these forward-looking statements to reflect actual results, changes in assumptions or changes in other
factors affecting such statements. You should independently investigate and full understand all risks before making
investment decisions. |
