Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Gold/Mining/Energy : ABRG (formerly AMBY) any news? -- Ignore unavailable to you. Want to Upgrade?

To: Cheesehead who wrote (1244)	11/17/1999 2:12:00 PM
From: Chris K.	Read Replies (2) \| Respond to of 1358

(BSNS WIRE) Oil and Gas Production Report of Ambra Resources Group Inc. Oil and Gas Production Report of Ambra Resources Group Inc. Business/Energy Editors VANCOUVER, British Columbia--(BUSINESS WIRE)--Nov. 17, 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. The two projects which are in production are the South Barataria Field and the Log-Pat Field. RED RIVER BULL BAYOU UNIT, La. Development of the 7,300 acre Red River Bull Bayou Unit in Red River Parish, La. is being funded by Ambra Resources Group. Operations for the project have been contracted to Rockland Oil Company to restore oil production by year-end from five of the fifty-seven total project wells. Work is in process to install triplex saltwater pumps, perform integrity tests on disposal wells, pull and test tubing, dress the well pumps for production and to install new poly pipe flow lines for well No. 30-06 from the well to the battery. Expected production for Phase 1 is between 60 and 75 barrels of oil per day. Additional wells will be brought into production as the project develops and is successfully funded by production revenues. Ambra Resources owns 75% interest in the project. SOUTH BARATARIA FIELD, La. The Bodenger No. 1 well in Jefferson Parish, La. is producing 20 barrels of oil per day with some gas which is being vented until the gas is connected to the sales line. A Right-Of-Way to connect gas lines for production delivery is being obtained. The gas flow is presently restricted to venting only and will be put into full production upon completion of the sales line hookup. Production of both oil and gas will be increased when the gas flow back pressure is reduced. Well No. 2 in this field will be re-perforated in the upper Chrys sand to increase production to an estimated 50 barrels of oil per day plus 1,000 mcfgpd. LOG-PAT FIELD PROSPECT The Sears No. 1 well has production of 18 to 25 barrels of oil per day from the Lower Wichita Albany zone. 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 Cameron Parish, La.: School Board No. 1, Cameron Meadows Field Project. LaFouche Parish, La.: Grandison Trust, Kings Ridge Field Prospect. Plaquemines Parish, La.: Bastian Bay Field Project. Plaquemines Parish, La.: Lake Washington Field Project. St. Mary's Parish, La.: Charenton Field Prospect. Vermillion Parish, La.: Erath Field Prospect. Okmulgee County, Okla.: Roy No. 1 Gas well, E. Henryetta Field. Okmulgee County, Okla.: Dauna No. 1, Oktaha 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--SCP/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 *