Anvil hooks up Texas well for production
Anvil Resources Ltd
ANV
Shares issued 23,382,332
1999-02-15 close $0.325
Tuesday Feb 16 1999
Mr. James Lenec reports,
This news release is further to the news release of Dec. 7, 1998 in
which Anvil reported that its first well in Webb County, Tex. was hooked
up for production to the Houston pipeline.
The well started producing from the third sand at 564,000 cubic feet per
day with fluid. The company's intention was that once this sand was
cleaned up of fluid/water that was injected during the third frac, the
bottom two sands would be hooked up and the well would produce from
three sands from the two completions.
To date the third sand is still producing water that is inhibiting the flow of
gas from this sand. The bottom two sands have not yet been put into
production.
Over the course of the last month the operator has taken a number of
water samples from the well in an effort to determine the source of the
water. Due to the freshness of the water being produced it was believed
that the water/fluid may be coming from a prior frac as formation water
in the Wilcox sands is much saltier than that being produced.
After review of the amount of fluid/water injected into the well and the
amount produced, it is now believed that this water must be coming
from another source and is not the water/fluid that was injected during
the fracs.
Despite the water problem, the well has delivered 11,943 million cubic
feet of gas from 637 hours of production (28.5 days) from Dec. 7, 1998
to Jan. 31, 1999 with a British thermal unit content varying from 995 to
1,050.
At present the well is still producing from the third sand.
The company and the operator are reviewing data from the well and will
make a decision shortly of how to proceed with production from the well.
The company has received an authorization for expenditures (AFE) for
the drilling of the second well, but until the problems associated with the
first well are resolved, the company will not proceed with a second well.
Mr. Lenec also reports
Further to the above, the news release as disseminated by Stockwatch
contained two typographical errors. First, the reference to 28.5 days
should have read 26.5 days. Second, the reference to 11,943 million
cubic feet of gas should have read 11.943 million cubic feet of gas. |
