Esenjay Successful with Runnells #5 Well

Esenjay Exploration, Inc. has completed and tested its Runnells #5 well in the deep geopressured Frio Trend in Matagorda County, Texas. Located in Esenjay's Duncan Slough 3-D Seismic project, the Runnells #5 is the first delineation well to the Company's Runnells #3 wildcat discovery well, and was production tested at an unstimulated daily flow rate of 21 million cubic feet (MMCF) of natural gas and 710 barrels of condensate, with flowing tubing pressure of 7,436 pounds per square inch through a 25/64" choke. Esenjay is the generator and operator of this prospect and owns a 33% working interest.

Esenjay turned the Runnells #5 well to sales and it is currently producing at a daily rate of 19 MMCF of natural gas and 580 barrels of condensate. The Runnells #5 was completed in the Claughton "A" portion of the deep geopressured Frio formation. Combined, the Runnells #3 and #5 wells are producing 31 MMCF of natural gas and 1,052 barrels of condensate per day. Both wells have additional pay behind pipe.

The next well that the Company plans to drill is the Runnells #7. This well will be located approximately 1,600 feet to the southwest of the Runnells #3 well, and is an apparent separate fault block. The Runnells #7 is scheduled to spud in September. Esenjay plans to drill through the Claughton sand series to a total depth of 14,600 feet.

Esenjay has a total of six contiguous 3-D seismic (mostly proprietary) surveys covering 170 square miles in Matagorda County. The Company and its partners own over 2500 gross acres covering the prospect area. Esenjay's partners in the Runnells Field discovery are Samedan Oil Corporation, a wholly owned subsidiary of Noble Affiliates Inc., with a 24% working interest, and Santos USA Corp., a wholly owned subsidiary of the ultimate parent entity, Santos Ltd., an Australian listed company, with a 30% working interest. The remaining interest is owned by private parties including JLC Enterprises, Inc., Trijon Exploration, Inc., and Brazos Resources, Inc.


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