Stokes & Spiehler has already completed the preliminary engineering and design work necessary to re-enter the Inglewood #2 well located in the Wyandotte Field in St. Mary Parish, Louisiana, the 3rd largest gas producing state in the USA. This well is targeting the DB-3 formation, which has 20 BCF of proven-undeveloped gas reserves and is classified as a PUD. In addition, the site provides access to DB-5 prospect, a deeper field with the potential for additional natural gas reserves.
"We are extremely pleased with the progress we have made to begin drilling activities at the very promising DB-3 prospect," said Fred B. Zaziski, Falcon's CEO. "The solid geological data and prior production history confirms that this site has a great potential. Stokes & Spiehler's depth of experience in petroleum engineering is providing us with the solid foundation to make this project a success."
"We are committed to helping Falcon to meet its business objectives and provide a safe and efficient operation," commented Russ Bellard, Petroleum Engineer of Stokes & Spiehler. "Stokes & Spiehler is looking forward to building a strong relationship with Falcon as the Company continues to achieve its key milestones."
Stokes & Spiehler will also supervise all drilling operations. This work is scheduled to commence sometime in the second quarter of 2005, once all permits required by the state of Louisiana are completed. The Company expects to be in production approximately 90 days thereafter.
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