Breezer announced that Rick Taylor, technical advisor to the Company, has recently studied some of the drilling logs and data pertaining to the Jackson Lease oil and gas wells in Texas. Mr. Taylor concluded that the Jackson Lease might have some very productive oil and gas reserves located at the Winchell Lime formation, which would be new oil and gas reserve discoveries for the Company.
Also, highly noted West Texas geologist Bill Waggoner, a business associate of Rick Taylor, recently met with a Log Analyst from the internationally acclaimed Schlumberger Company to jointly study the potential of the oil and gas reserves of the Jackson Lease. Schlumberger has been in business for 80 years and is extremely respected in the world as leading experts in supplying technology and management information solutions to the oil and gas industry. Based on the information obtained from Schlumberger, Mr. Waggoner concluded that the Winchell Lime formation of the Jackson Lease is potentially to be productive for oil and gas.
Currently, the Company has options on ten wells located on the Jackson Lease. Well #6, recently re-opened by the Company, has the Winchell formation present and this zone could potentially be another prolific producing zone for the well. It would be a new field discovery for the Company, in addition to the other producing zones that are historically associated with the ten wells optioned by the Company.
The Winchell formation is about 300 feet thick and would hold a great deal of oil and gas reserves, many times the potential in the Moran Sand currently being developed in Well #6. The Company is preparing to test the Winchell formation in the Jackson Lease. If productive, the Company's oil and gas rehabilitation program will re-focus on the Winchell formation.
"The Company is extremely excited over the strong prospect of a new oil and gas find on our Jackson Lease property," stated Tang Xu.
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