Drucker, Inc. (OTC)
Sector: Energy Industry: Oil Well Services & Equipment
TYK Increases Interest In West Gharib Block to 70% February 05, 2002
Tanganyika Oil Company Ltd. announced that it has reached an agreement with Drucker, Inc.'s Drucker Petroleum Inc. to purchase its 20% interest in the West Gharb Block, Egypt. Upon completion of the transaction, Tanganyika will have a 70% interest in the Block. Pursuant to the terms of the agreement, Tanganyika will acquire Drucker's 20% interest in the West Gharib Block for a purchase price of US$250,000 and the issuance of 1,000,000 common shares in the capital stock of Tanganyika Oil.
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Drucker, Inc. Hana Deep-1 /Hana-9/ Well Completed as Oil Producer January 28, 2002
Drucker, Inc. announced that the Hana-9 well is currently being completed as a Kareem oil producer. The well encountered 45 feet of net oil pay (average porosity 26%) in the Kareem reservoir, further extending the Hana Field to the west. Production tubing (3.5 inch) has been set and the well is expected to be on production within the next 10 days.
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Drucker, Inc. Announces Hana Deep-1 Well Spudded January 09, 2002
Drucker, Inc. announced that drilling operations have commenced at the Hana Deep-1 (Hana-9) location on the Joint Venture's West Gharib Block in Egypt. Hana Deep-1, the first of a planned three well exploration program, will be drilled within the limits of the Hana Field but will explore the multi reservoir potential of the Rudeis Sand to a depth of approximately 7,000 feet. The second well, Hana South-1, will be drilled to an approximate depth of 6,000 feet to test the Kareem and Upper Rudeis reservoirs in a structure immediately adjacent to the Hana Field.
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Drucker, Inc. SEM-1 Well Drilling Results February 08, 2001
Drucker, Inc. announced that drilling operations have been completed on the Sahara El Mehadjer-1 well (SEM-1). Although thick clean sandstones with oil shows were encountered in the primary Triassic and Ordovician reservoir objectives, analysis of the electrical logs indicate these sands to be water bearing. Due to a thickened overlying salt section, the SEM-1 encountered the reservoirs just below the oil/water contact interpreted from the first two wells. There was a dramatic increase in the thickness of the Triassic TAGI sandstones from an average of 14 meters (46 ft) in the first two wells to 24 meters (79 ft) in the SEM-1 well.
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Drucker, Inc.-SEM-1 Well Progressing Smoothly and on Schedule January 17, 2001
Drucker, Inc. announced that the drilling of the SEM-1 well is progressing smoothly and on schedule. The well is at a depth of 3,445 meters (11,300 ft) and is in the Triassic salt formation. This Triassic salt layer acts as a regional caprock to the Palaeozoic/Triassic Petroleum System. A 7 inch liner is currently being run in and cemented. Approximately 120 meters (390 ft) of coring is scheduled to commence shortly with the objective to collect core samples through all potential net pay zones in the Triassic and Ordovician sections. Planned total depth is approximately 3,800 meters (12,500 ft).
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Drucker Industries, Inc. is Changing its Name to Drucker, Inc. January 02, 2001
Drucker Industries, Inc. announced that it has changed its name to Drucker, Inc.
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Drucker Industries Inc. Announces SEM-1 Well Spudded In Algeria December 11, 2000
Drucker Industries Inc. announced that drilling of the SEM-1 well in Algeria has commenced. The well is being drilled with a Pride Forasol 1,500 horsepower N110/2 rig and is currently at a depth of 90.5 meters (300 ft). Planned total depth is 3,810 meters (12,500 feet).
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Drucker Industries Inc. Announces Rig Mobilization Nearing Completion At SEM-1 Drill Site In Algeria November 30, 2000
Drucker Industries Inc.'s Board of Directors announced that rigging up of the Pride Forasol drill rig at the SEM-1 drill site is about 85% complete.
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Drucker Industries Inc. Completes Seventh Well In The Hana Field, Egypt November 24, 2000
Drucker Industries Inc. announced the Hana-7 well in Egypt has been successfully completed and placed on production. The well tested at approximately 1,500 b/d of oil. Average daily production from the Hana Field is now over 3,300 b/d. Hana-7, drilled as a development well, encountered 62 feet of net sand pay in the Kareem formation.
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Drucker Industries Inc. Announces Drill Stem Testing Of The Semhari East-1 Well Has Commenced August 03, 2000
Drucker Industries Inc. announced that drill stem testing of the Semhari East-1 well has commenced. The test will be performed over 15 meters of the TAGI sandstone, one of several oil bearing zones encountered during the drilling of the well. Drucker has an indirect 2.5% interest through Santa Catalina (Algeria) Ltd. which holds a 25% interest in the Hassi Bir Rekaiz concession. ARCO Ghadames Inc. is the operator holding a 50% interest. Turkish Petroleum holds the remaining 25%.
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Drucker Industries Inc. Announces Flow Testing Of The Semhari East-1 Well Will Commence Shortly July 14, 2000
Drucker Industries Inc. announced that flow testing of the Semhari East-1 well is expected to commence shortly. The 4.5" liner will be perforated between 3,723.5 and 3,738.5 meters to perform a Drill Stem Test of the TAGI oil bearing sandstone.
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Drucker Industries Inc.'s Current Development Program in the Hana Field of the West Gharib Block in the Gulf of Suez Basin, Egypt Has Been Completed May 02, 2000
Drucker Industries Inc. announced that the current development program in the Hana Field of the West Gharib Block in the Gulf of Suez Basin, Egypt has been completed. The Hana-3 well, drilled on the northern extremity of the reservoir, encountered 32 feet of net oil pay and is presently being equipped as an oil producer. The Hana-4 and Hana-5 wells were successfully drilled along the fault plane defining the western edge of the reservoir. Each of these wells encountered over 65 feet of net pay, similar to the Hana-2 well which is producing at a stabilized rate of 1,500 barrels of oil per day. The sixth well in the program, which was drilled as a stepout location approximately 1.4 kilometers to the southeast of the Hana-1 discovery well, encountered 18 feet of net pay. With all six completed wells on stream, oil production is expected to be boosted from the current 2,000 barrels per day to over 5,000 barrels per day.
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