Mesa provided an update on its activities in south Louisiana in the Lake Hermitage Field (100% working interest).
The LLDSB #4 well in the Lake Hermitage Field was successfully re-completed in the UL-4 Sand zone in three intervals totaling 12 feet of net productive sand between 12,296 feet and 12,395 feet and is maintaining consistent production of approximately 130 barrels of oil and 350 thousand cubic feet of gas per day at a stabilized flowing tubing pressure of 160 lbs.
The Company has received a permit for the plugback recompletion of the LLDSB #3 well and expects to complete its work on this well later this month. The target for LLDSB #3 is the UL-6 Sand zone at a depth of 12,753 feet. Our technical team expects the potential production from the recompletion of this well to be similar to the production from the LLDSB #4 well described above.
The Company also announced that the transfer of operations from Tchefuncte Natural Resources, LLC, its newly acquired wholly owned subsidiary, to Mesa Gulf Coast, LLC has been completed. Accordingly, Mesa Gulf Coast, LLC, also a wholly owned subsidiary of the Company, is now the operator of record of all of the Company's properties in Louisiana. This change was affected by the Company to provide the appropriate separation of the operator of the wells from the owner of the well interests as well as to enhance the Mesa brand and to streamline general and administrative activities.
"We are very pleased with the performance of the LLDSB #4 well and anticipate similar results with the LLDSB #3," said Randy M. Griffin, CEO of Mesa Energy Holdings, Inc. "We remain highly optimistic about the potential for significant growth in revenue and reserves in these fields and will continue to provide updates as new information warrants," added Griffin.
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