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Gold/Mining/Energy : Westfort Energy Ltd. (WT-T) -- Ignore unavailable to you. Want to Upgrade?

To: floj who wrote (747)	7/13/1998 1:02:00 PM
From: Charon2000	Read Replies (2) \| Respond to of 1288

* Latest WT News Release * WESTFORT ANNOUNCES EVALUATION RESULTS FROM LOGGING & CORING - JOHNNY RHODES 7-6 NO. 1 WELL AND PROGRESS OF PELAHATCHIE DEEP UNIT 18-4 NO. 1 WELL JACKSON, MISSISSIPPI, July 13 /CNW/ - Westfort Energy Ltd, symbol WT on the Toronto Stock Exchange, announced that the analysis of electrical logs together with sidewall core results evidence that there are seven oil/gas productive Lower Cretaceous zones totaling over 50 feet of oil saturation in the Johnny Rhodes 7-6 No. 1 well. The primary objective zone at 11,300 feet, a Hosston formation zone, analyzed as having 20 feet of oil bearing cores. This same zone has been a target in recent years in the field. The north offset well to this location, the 7-3 Linda Rhodes in Sec 7 5N 5E flowed 1008 barrels oil per day through a 16/64 choke with 1425 pounds of tubing pressure from the zone. A 10 foot Rodessa sand at 10,260 feet through 10,270 feet, also analyzed to be an excellent producer. The Rodessa pay zones in the field have been prolific producers in previously produced wells in the field during the 1960's. Canadian Delta Inc., Westfort's Mississippi operating company, plans to test and complete the well for production in the 11,300 foot zone immediately upon removing the drilling rig from the location, The Pelahatchie Deep Unit 18-4 No. 1 well continues to be drilled in the field, having reached a depth of 16,375 feet. Higher than anticipated formation pressures were encountered at the top of the Smackover formation resulting in the company having to take extra precautionary measures in order to continue drilling. The company has spent the last several days weighting the drilling fluids and changing-out down-hole drilling assemblies in order to enable the company to safely drill through the Smackover and into even higher anticipated pressures expected to be encountered in the prolific Norphlet reservoir at an estimated 17,100 feet. The company's drilling engineers have now recommended that the company employ conventional rotary drilling methods temporarily rather than the downhole motors used to this point. As a result, it is anticipated that the rate of penetration may decrease and result in an extension of drilling time in order to reach the total depth of 17,350 feet. Comparison drilling in the same formations in the 1960's saw penetration rates averaging 30 - 40 feet per day in these hard formations. In the last 12 hours drilling in the well, the drilling has been progressing at an average rate of 6-8 feet per hour using today's newly designed bits and drilling techniques. With the recent shows and pressures encountered in the Smackover formation, Westfort has thus far encountered 20 probable pay zones in the well, with 19 of them now secure behind casing set to 15,900 feet. The company's announced goal is to reach the prolific Norphlet zone, the last known productive zone in the field, expected to be encountered at approximately 17,100 feet. A 1960's Norphlet discovery well in the field, situated approximately 2,000 feet southeast of this well, experienced production rates in excess of 2000 barrels of high gravity oil per day in this zone combined with over 2.3 million cubic feet of sweet gas per day. Similar Norphlet wells in the state have produced over 3,000,000 barrels of oil per well in the same type environment expected in Pelahatchie field. The Toronto Stock Exchange has neither approved nor disapproved of this release. Whitney Pansano President