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: SCOOBEY-DO who wrote (1356)	10/16/2002 9:38:41 AM
From: SCOOBEY-DO	Read Replies (1) \| Respond to of 1358

Ambra Resources Group Announces Thunderbird Oil Production Starts VANCOUVER, British Columbia--(BUSINESS WIRE)--Oct. 16, 2002-- Publicly traded Ambra Resources Group Inc. (OTCBB:ABRG) announces drilling update on the Thunderbird Unit, Well no. 1 in Karnes County, Texas. The following report was received from the Operators Drilling Manager: The BBX-Thunderbird Unit #1, Well #1-HOL went on line and started producing its first barrel of oil (oil to the tanks) 9 a.m. Saturday, October 12th. We opened the valves Friday, October 11th around 2 p.m. but had problems with the heater/treater. We shut the well in for the night and had everything working safely early Sunday morning. The well started flowing on a 12/64" choke at 1650 psi (flowing tubing pressure-FTP) producing 442,000 cubic feet of gas a day and had made 58 barrels of oil and 96 barrels of fresh water by 12 noon. At noon the FTP was 1590 psi, gas 325 mcf. The well was reduced down to an 8/64 choke at 9:30 p.m. Saturday for the night. FTP was 1400 psi. At 6:30 a.m. Sunday, October 13th the well's flowing tubing pressure was 1650 psi and it had produced 65 bbls oil and 25 bbls fresh water in 10 hrs. The well was put back on a 12/64 choke. From then until noon, the well was flowing 20 bbls oil and 2 bbls of fresh water per hr at 1400/1425 psi making approximately 400 mcf. At noon, the well was opened up to a 14/64 choke for an hour. Flowing tubing pressure was 1400 psi and the well had made 23 bbls oil and 3 bbls water. Spot gas was 434 mcf. The well was put back on a 8/64 choke at 12:30 p.m. BBX called for the Thunderbirds first load of oil to be picked up and sold Sunday morning. Oasis Transportation and Marketing Corp., Corpus Christi, TX arrived 3 p.m. Sunday, October 13th, tested the T-Bird oil (41.5 degree gravity oil @ 92 degrees temp) and accepted the very first 173.68 bbls of oil. We also have approximately 350 bbls of oil in storage in a frac tank on location accumulated from drilling. The report this morning from our pumper at 7 a.m. October 14th is as follows: last 13 Hrs, 110 bbls oil and 0 water, flowing at 1375 psi. The last 24 hrs, 283 bbls oil, 16 water and the well has flared 216 mcf. Oasis picked up another load of oil at 7 a.m. this morning and will continue to transport oil for the biggest part of the day to empty our temporary tank. A pumping report from the field will be twice daily (7 a.m. and 7 p.m.) for a while until the well has stabilized. As you are aware, the pipeline situation will be addressed the third week in November. We are on the docket with the San Antonio River Authority and hopefully will get our permit approved at that time to lay our gas pipeline across the Cibolo Creek to the El Paso sales point. In the meantime we will continue to produce oil and gas at a reduced rate so as not to flare too much gas. That's about it for now. As the days turn into weeks and the weeks to months we will know more about the long term production of the BBX-Thunderbird Unit # 1, Well # 1- HOL. By the Board of Directors, Ambra Resources Group Inc. CONTACT: Ambra Resources Group Inc., Vancouver Investor Relations John Hickey, 800/698-3377 or 604/669-2723 www.ambraresources.com