Results of test on 18-4 No. 1 well - Pelahatchie field
Westfort Energy Ltd
WT
Shares issued 22,230,583
1998-11-27 close $0.81
Monday Nov 30 1998
Mr. Whitney Pansano reports
The company has had excellent results in its test of the 11,300 foot
Hosston formation sand in the 18-4 No. 1 well. After cementing and
perforating the well from 11,287 to 11,297 feet, the well was tested by
swabbing and flowing. High gravity (51 degree) oil and a large quantity
of gas was recovered from the zone. Test results indicate that the well
should be capable of producing 200 (+/-) barrels of oil per day, similar
to the Johnny Rhodes 7-6 well which is completed in the same zone and
over one mile northeast of the 18-4 well.
The 18-4 No.1 well was originally drilled to a depth of 17,230 feet as a
Norphlet formation test well. Significant and multiple oil and/or gas
zones were found in the Lower Cretaceous, Hosston, Cotton Valley,
Buckner/Haynesville, Smackover and Norphlet formations. Mechanical
problems prevented the company from being able to effect a completion
in the Norphlet zone where a 107 foot oil column was discovered with
indicated recoverable reserves in excess of 6,000,000 barrels of oil and
6 billion cubic feet of methane gas. Temporarily, the company elected to
plug back and complete in the 11,300 foot zone in the well where 16
feet of net pay was present in the same Hosston formation sand that is
presently producing in the Johnny Rhodes well. Having confirmed the
excellent Norphlet reservoir with this well, the company plans to redrill
for the deeper zone in the near future.
According to Harold Karges, vice-president and senior geologist for
Westfort, the 18-4 well has provided sound geological evidence of
additional multiple oil and gas reservoirs to be developed in
Pelahatchie field. The 11,300 foot zone is only one of many of the zones
encountered in this well that extends the boundaries of the previously
known proven reservoirs in the field to the southwest. Mr. Karges'
geology indicates that at least five additional infield wells could be
drilled for the 11,300 zone alone, although in drilling to 11,300 feet his
geology also indicates that each well will probably encounter multiple
pay zones other than the 11,300 zone. It is the company's intent to drill a
number of wells in the new year to the depth of 12,000 fee to exploit
these mid-depth pay zones as the economics remain favourable, even
in the present $12 oil price environment |
