FIELD ACTIVITIES / GHP Exploration updates Drilling Results
GHP Exploration Corporation (CDN:GHPX.U) today announced that the Donner #1
well located in southern Newton County, Texas, operated by GHP and in which
GHP has a 72% working interest and a 54% net revenue interest (News-November
25,1997), has reached total depth.
The GHP Donner #1 was drilled to a total depth of 7,662 feet. The well
encountered four hydrocarbon bearing zones in the Frio formation between
6,900 and 7,500 feet. Production casing has been run to total depth and the
well is being prepared for completion. Additional details will be made
available as the well is completed and tested over the next several weeks.
The Company also announced today it has plugged and abandoned the West
Cameron 18 #1 well at a total depth of 15,077 feet. The well encountered
severe hole problems while drilling towards the proposed total depth of
16,000 feet, resulting in wellbore conditions which forced the logging
and evaluation to be conducted with a "logging while drilling" (LWD) tool as
opposed to more conventional and higher quality wireline logs and tests.
Although the LWD tool indicated the presence of potential hydrocarbon bearing
sands, the well was considered non-commercial on the basis of the data
obtained. Additional evaluation of the prospect will likely be conducted to
determine the remaining potential on the block. GHP has an 8.571% working
interest in the well. Additionally, the West Delta 78 (News-August 11, 1997)
and the Sud Nefta #1 (News-September 8, 1997) wells are still drilling to
objective depth.
GHP engages in the exploration for and development and production of crude
oil and natural gas in the United States and Internationally with operations
and interests in acreage in the Gulf of Mexico, onshore Texas, Utah and in
Tunisia. The Company currently has 17.4 million common shares outstanding.
(NO STOCK EXCHANGE, SECURITIES COMMISSION OR OTHER REGULATORY AUTHORITY HAS
APPROVED OR DISAPPROVED THE INFORMATION CONTAINED HEREIN.)
Contacts:
George H. Plewes - (604) 669-2525
Barry D. Lasker - (713) 626-9373
Internet: ghpexploration.com |
