Corridor Finds Gas with McCully K-57 Well

Corridor says the McCully K-57 in Canada has reached a total depth of 2660 meters. The Hiram Brook sands of the Albert Formation were drilled underbalanced with inert nitrogen over the interval of 2100m to 2660m.

As expected, a total of five sand packages (A through E) have been penetrated while drilling underbalanced. The gas chromatograph confirmed, while drilling, the presence of natural gas in all of these sands. Gas has been flared at surface while drilling, on connections, and after round trips for bit changes. Wireline logging commenced at 0830 this morning and the data obtained from these runs will indicate the net pay. Tomorrow, a Production Log will be run to determine the initial flow rate contribution from each of the sand packages, and then followed by the installation of production tubing. Over the weekend, the rig and other service equipment will be removed from site, and the well will be placed on longer-term test followed by a final pressure build-up. Flow rate and pressure information will be released, when available, next week. Gas reserves and production profiles for this portion of the McCully Field will be updated during May.

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Brent Crude Oil : $51.38/BBL 2.44%
Light Crude Oil : $50.43/BBL 2.26%
Natural Gas : $3.14/MMBtu 0.94%
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