Brinx Resources and its partners have completed a new development oil well offsetting the highly successful 2008-3-5 well in southern Oklahoma. Completion of the new 2008-3-5A oil well took place on September 1, 2011.
The 2008-3-5A well immediately started flowing after it was perforated and began producing at a rate of 298 barrels of oil per day and an unmeasured quantity of natural gas. Since completion, the well has been producing at rates between 240 and 300 barrels of oil per day along with some natural gas. Electric log analysis indicates that several additional pay zones still exist above the completed section that will be tested at a later date.
The original 2008-3-5 well began production in May of 2009. As of June 1, 2011, that well had produced over 155,000 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. Engineers have estimated that the upper pay zones could contain over 180,000 additional barrels of oil to be recovered from the 2008-3-5A development well.
Brinx anticipates that it will take part in several additional development well drilling opportunities in Oklahoma in the near future. Also in Oklahoma, the Company expects to participate in a minimum of ten new exploration and development drill programs based on its recently completed 130 square mile 3-D seismic program.
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