Greka Exceeds Production on Louisiana Well

Greka Energy Corporation announced that the Company has completed the 9-A zone of the Haspel & Davis #1 (HD1) well in the Potash Field in Plaquemines Parish, Louisiana. As previously announced, the well was dually completed in the 11-B gas sand and the 9-A oil sand. Flow lines and production equipment have been installed connecting the well to Greka's central production facility on the east side of the Mississippi River.

The 9-A zone was completed through selective intervals between 8210' to 8244'. In the last 24 hours, the well tested at 510 BOPD and 450 MCFPD through an 18/64" choke with flowing tubing pressure of 900 psi, and is on production through central facilities.

The HD1 well, when drilled, was expected to produce 350 BOPD and 3 MMCFPD, while actual rates tested at 510 BOPD, 5450 MCFPD and 325 BCPD resulting in a significant increase above initial expectations from two of the eleven productive zones.

The Company is operator and owns a 100% working interest and a net revenue interest of 78-83% in approximately 3,000 acres in the Potash Field. The Potash Field is a salt dome in South Louisiana on the Mississippi River that is south of New Orleans. With the HD1 well's completion, the field has a total of 133 wells drilled to depths varying from 600' to 14,000' with 20 wells remaining.


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