I can't believe that no one has posted this yet !!!
(BSNS WIRE) Oil and Gas Project Status Report of Ambra Resources Group I
Oil and Gas Project Status Report of Ambra Resources Group Inc.
Business/Energy Editors
VANCOUVER, British Columbia--(BUSINESS WIRE)--October 14, 1999--
Ambra Resources Group (OTCBB:ABRG) and 50% owned partner Venture Oil
and Gas report on the status of selected oil and gas projects which
are under development.
RED RIVER BULL BAYOU UNIT, La.
The 7,300 acre Red River Bull Bayou Unit in Red River Parish, La.
The Louisiana Office of conservation has authorized operations to
begin on the Unit. Electrical services are being restored to onsite
facilities and Phase 1 operations to remediate the first five of
fifty-seven oil wells is scheduled to begin within two weeks. Phase 1
production for the first five wells is expected to be between 60 and
75 barrels of oil per day.
BASTIAN BAY FIELD, La.
State Lease "9800" No. 1 Well, Bastian Bay Field in Plaquemines
Parish, La., was successfully hooked-up to the Union Pacific
production platform and the well has been cleaned out and
re-perforated at a shut-in tubing pressure of 4660 psi. Westfield Oil
and Gas purchased the 12" pipeline from Tennessee Gas and operations
are ongoing to complete the pipeline connections.
LAKE WASHINGTON FIELD, La.
Acquisition of the State Lease "9798" well No. 2 in Lake
Washington Field, Plaquemines Parish, La. has been completed and the
Coiled Tubing Unit is being barged to the unit to remove paraffin,
wash sand, and flow test the well. This project is estimated to have
total recoveries of 100,000 barrels of oil and 200 million cubic feet
of gas after remediation.
CHARENTON FIELD, La.
In Charenton Field, St. Mary's Parish, La., operations have begun
to repair the saltwater flow lines, install a Unidraulic unit and a
wireline unit to pull a downhole pump on the Paramount No. 1 well, and
to acidize the perforations in order to return the lease to an
expected production of 40 to 80 barrels of oil per day (plus some
gas). Additional wells are scheduled for recompletion in proven zones
that are expected to yield 200 to 300 bopd plus 500 mcf of gas per
day. Recoverable oil reserves are estimated at 320,000 barrels with
300,000 barrels of undeveloped reserves to be drilled.
SOUTH BARATARIA FIELD, La.
Since acquiring the S. Barataria Field well located in Jefferson
Parish, La, the production has been 25 barrels of oil per day and over
100 mcf of gas per day. Right of Way authorizations are being obtained
to connect this production to a sales line. Additional perforations
are planned to obtain an expected production of 1,000 mcf and 50
barrels of oil per day.
KINGS RIDGE FIELD, La.
Final acquisition of the King's Ridge Field Project in LaFouche
Parish, La., is awaiting issue of a security bond or site-specific
trust with the State of Louisiana. The acquisition is for three leases
containing four production wells with one well conversion to salt
water disposal. After conversion, expected production minimums of 300
barrels of oil per day and about 800 mcf of gas per day are expected.
Additional geologic information obtained on this field indicates
additional resources of 600,000 to 1,000,000 barrels of oil could be
recovered from new drilling of this project in the future.
CAMERON MEADOWS FIELD PROSPECT
The Cameron Parish School Board No. 1 unit is scheduled to be
acidized next week to open blockage. Additional perforations will be
undertaken in the upper zone to increase production to an expected 125
barrels of oil per day plus estimated gas production of 500 mcf per
day.
LOG-PAT FIELD PROSPECT
The Sears No. 1 well is being pump tested on a timer at rates
ranging from 18 to 30 barrels of oil per day. The Eiland No. 1 well
was tested and had water with a slight show of oil. The well is
shut-in pending further evaluation.
ADDITIONAL PROJECTS UNDER DEVELOPMENT
Okmulgee County, Okla.: Roy No. 1 Gas well, E. Henryetta Field.
Okmulgee County, Okla.: Dauna No. 1, Oklaha Field.
Hughes County, Okla.: Kacee Ann No. 1, Greasy Creek Field.
Duval County, Texas: McNeil Ranch Field.
McCulloch County, Texas: Donop No. 1, Wildcat Prospect.
Menard County, Texas: Gainer No. 1, Wildcat Prospect.
By the Board of Directors, John M. Hickey, President.
--30--EB/ho*
CONTACT: Ambra Resources Group Inc., Vancouver
Investor Relations, 800/698-3377 or 604/669-2723
ambraresources.com
KEYWORD: TEXAS OKLAHOMA LOUISIANA INTERNATIONAL CANADA
INDUSTRY KEYWORD: OIL/GAS ENERGY
Today's News On The Net - Business Wire's full file on the Internet
with Hyperlinks to your home page.
URL: businesswire.com
*** end of story ***
|
