Stratic Energy Says Crawford Well Exceeds Expectations
Stratic Energy Corporation
|Monday, December 10, 2007
As previously reported, well 9/28a-18 successfully confirmed the extension of Crawford Triassic reservoir to the north of the field, encountering over 1,200 ft of oil bearing sandstone with the benefit of a 70° well bore deviation (equivalent to a more than 400 ft vertical section). The well also discovered oil in a separate Tertiary target known as Delta A, comprising a 62 ft oil column containing 40 ft of pay.
The partnership group will now evaluate the very encouraging results of the well to define the optimum forward program. Options for the development of the Crawford area include an extended production test of the Triassic reservoir appraised by the current well and further exploratory drilling on other Tertiary prospects near to the Delta A discovery.
Stratic's interest in the P209 Crawford license is 19%, and the operator is Fairfield Energy.
Kevin Watts, Stratic's Chief Executive, commented: "The results of this well exceed expectations, proving up a significant deeper Triassic resource with better reservoir characteristics than those encountered in the original Crawford development which focused largely on the shallower Jurassic horizons. It gives us sufficient encouragement to move ahead and define potential development concepts for this new resource, with the possibility of submitting a field development plan by the end of next year".
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