Brinx Resources reported that the Company and its partners have elected to drill a development well offset the highly successful 2008-3-5 well in southern Oklahoma. Drilling of the new 2008-3-5A well is expected to commence within the next two weeks.
The original 2008-3-5 well began production in May of 2009. As of June 1, 2011, the well had produced over 150,000 barrels of oil and 16.5 million cubic feet of natural gas from a single pay zone. The 2008-3-5 well continues to produce at a stabilized rate of over 100 barrels of oil per day. Electric logs conducted in 2009 identified a number of additional pay zones in the 2008-3-5 well above the currently producing pay zone. Engineers have estimated that the upper pay zones could contain over 180,000 additional barrels of oil to be recovered from the development well.
Brinx Resources also reported that data gathering ("shooting") at the Company's 3D seismic program in southern Oklahoma has been completed. Initial analysis of seismic data from the 83,043 acre (130 square mile) program has already identified several high quality drilling prospects. Additional potential drilling locations are expected to be identified as the partners continue to process the enormous quantity of proprietary field data generated by the program. Drilling of the first seismic anomaly targets could start as early as late summer or early fall.
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