Jack & Palo Pinto Counties, Texas
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Micron Enviro Systems, Inc. ("MSEV") has been notified by the operator that the Henderson #3 Well on the Martex Prospect in Jack County, Texas has commenced operations. This is the fourth well of seven. Acidization and perforation are scheduled for the next few days barring any unforeseen issues. The testing of this well is expected within the next three weeks. This process will establish initial flow rates. The frac of Wimberley #5 well is also scheduled for this week, barring any unforeseen issues. Bernie McDougall, President of MSEV stated, "We are approaching a very exciting time for MSEV. There has been weather issues that have slowed our progress in Texas which is the main reason for the delays thus far. We have now started work on four of the seven wells on the Martex Prospect. As it currently stands we have put one well, the Ima #2 on line for sales, and the other three, the Wimberley #5, Kinder #1 and now the Henderson #3, are currently ready to be tested to determine the flow rates. The testing of these wells is expected to take place over the next month barring any unforeseen issues. Also, MSEV's new Texas prospect, the Manahuilla Creek Prospect, is expected to commence operations within two weeks. These two prospects will give MSEV multiple drill targets that could add significantly to the company's revenue. These wells are to be tested in the very short term. These next few months could mark a watershed time for MSEV as it attempts to achieve its goal of becoming a mid-range oil and gas company."
The Martex Prospect is located in a multi-play area with production being obtained from multiple zones. These zones are the shallow strawn sands from 1,800 feet, to the Big Saline Conglomerates at approximately 4,000 feet, and the Missippian Chappel Reefs at 4,500 feet in depth. Tight gas shales and limestones are located below this depth, which are classified as continuous type natural gas plays (accumulations that are pervasive throughout large geographic areas and offer long-lived reservoirs with attractive finding costs). Increased drilling in the Barnett Shale and Marble Falls Lime has been spurred by a reduction in completion costs as a result of using light sand water fracs, higher gas prices, and refracing of productive zones. The objective for this project is to test the previously overlooked zones of interest in these wells.
Recently the Ima #2 Well in Palo Pinto County was successfully completed. This well is successfully producing both oil and gas. The well flowed as high as 701 mcf of gas per day and 252 barrels of oil per day.