United Bolero to fracture Bolero 1-23 on July 28
2005-07-20 10:55 ET - News Release
Mr. Blair Naughty reports
BOLERO 1-23 WELL TO BE FRACED
United Bolero Development Corp. operator Big Snowy Resources advises that, on July 28, 2005, the Bolero 1-23 well will be fractured by Sanjel Corp., which has been hired to do the work. Prior to fracing, a cement squeeze will be done. This well was fraced previously and the result was damage to the casing, to the extent that the pressure flowed to the point of least resistance. This spot will be cemented and then drilled out so as to leave a cement seal around the four one-half steel casing, prior to fracing.
The target zone is at 2,800 feet into the Tyler formation A pumpjack, tubing and storage tanks are already on site, and flow rates will be reported as soon as possible.
This first well, the Bolero 1-23, is located in Section 23, Township 10N, Range 25E. United Bolero advanced $100,000 (U.S.) to Big Snowy Resources for its 40-per-cent net revenue interest (after overriding royalties) in this well within a 40-acre spacing unit to a depth of 2,930 feet (893 metres).
The Wagonbox field lies within the Devil's basin anticline located in central Montana. Structurally, the Devil's basin features an uplift that defines the northwest boundary of the Powder River basin that extends northward from Wyoming.
Big Snowy was forwarded $75,000 (U.S.) in late 2004 to drill the second hole on the Wagonbox property in Montana to fulfill Bolero's obligation to drill two wells on this property. Bolero has been informed drilling will commence in the third quarter of 2005.
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