Hey Salty still interested in Basil?
I talked to Don last week, he said the logging of this well was done
and that nothing they saw changed their minds from last year, And
that testing should be completed this week with a news release out
one way or the other. Also I noticed that TRK did a private placement
And with the amount of shares put out, and money raised I would think
the insiders must feel real confident. Hope I am right I still hold a lot of
HTP shares so some good news there certainly would not hurt after a
long dry summer.
Here's the N.R. from last year:
Hilton Petroleum Ltd. Drilling Update
BAKERSFIELD, Calif., Sept. 4 /PRNewswire/ -- Hilton Petroleum Ltd.
(OTC Bulletin Board: HTPTF - news; CDNX: HTP- news)
Don Busby, CEO, Hilton Petroleum Ltd. provides the following update
of recent drilling activities.
Basil Prospect, Solano County, Northern California
California Exploration Inc., the prospect generator, has provided this
analysis on the results of the Suisun #25 Well in which Hilton holds a
32.48% WI (BPO). On July 25th the well was spud to test the Basil
prospect which is located on the south flank of the Suisun Gas Field.
The Suisun Gas Field has produced 90 BCF since 1947. The discovery
well in the Suisun Gas Field flowed 7 -9 MMCF/day for nearly 16 years
and produced for 30 years before it was shut in. Development wells flowed
between 2 and 6 MMCF/day and produced for over 30 years each. The
Basil prospect covers an area 15% larger than the area of the Suisun Gas
Field. The Suisun #25 well was directionally drilled to a measured depth of
7,829 feet to test the Suisun and Domengine Sands for natural gas. At
5,550 feet the well encountered the trapping fault with a 440 unit gas spike
supporting the sealing ability of the fault. The Suisun Sands were encountered
at 6,545 feet - 132 feet high to prognosis. The first sands coming in high
supports throw on the fault to be greater than expected. Once the sands were
encountered the background gas increased by nearly 200 units
(1 unit = 50 ppm Methane). Throughout the Suisun Sands the background gas
remained between 100 and 200 units with several connection gas readings in
excess of 300 units. The Domengine Sands were encountered at a
measured depth of 7,120 feet - 162 feet high to prognosis. In the lower
Domengine Sands, background gas readings remained in excess of 500 units.
When pulling out of the hole the drill pipe became stuck at approximately 2,300
feet and after three days of recovery efforts the pipe, below 3,216 feet remained
stuck. It was therefore determined to temporarily suspend the well.
All indications on the mud log imply a discovery and it is intended to sidetrack
this well from the same surface location using the existing casing down to 2,186
feet. The side-track will parallel the original hole to the same total depth of 7,829 feet.
Take care
Bob |
