News out on FEV.V
First Echelon Ventures
14th floor-400 Burrard St.
Vancouver, BC.
V6C 3G2
www.feventures.com
CDNX Symbol – FEV January 24, 2002
Frac’ing Commences at Morton Oil Field
First Echelon Ventures is pleased to announce that it received confirmation this morning at 7:00AM that frac’ing of both LTO#1 and LTO#2a has commenced at the Morton oil field. Both wells will be frac’d with ~25,000# of sand to achieve a ~30ft frac wing length. After frac’ing and cleanup, a string of 2 7/8 inch tubing will be emplaced to set-up air injection. Injection air will be initially supplied by the existing 950cfm @ 350psi IR compressor already on site. Mr. Stanley, President of First Echelon Ventures, states, “We are extremely pleased to have reached the final step in completing the pilot project, with air injection to start the first part of February”.
About the Morton Oil Project:
Located in Converse County, Wyoming, the Morton project lies within the prolific oil producing Powder River Basin. To date over 6 million dollars has been spent on the Morton field. A total of 25 wells have been drilled into the Sussex Sand Reservoir within the Morton field during the last 15 years as well as significant infrastructure. Past production has totaled 350,000 barrels, which is approximately 1% of the oil in place. This has left 35 million barrels of oil of which an estimated 60% is recoverable using LTO technology (Low Temperature Oxidation). The Morton oil is considered light sweet crude and has been classified as a paraffin-based oil, having a 40-degree API gravity and low sulphur.
For further information please visit the Company’s web page at www.feventures.com or contact John Hansen, Investor Relations at (604) 643-1722 or Toll Free: at 1-888-317-7276.
First Echelon Ventures Inc
Stephen Stanley,
President
The CDNX has not reviewed and does not accept responsibility for the adequacy or accuracy of the content of this News Release. |
