"I am absolutely elated with the superb performance of the Schlumberger high pressure team, who proved that we can successfully fracture deep formations in California. We are dealing with a zone five times harder than concrete and we put away 5,000 barrels of fluid and 118,000 pounds of special proppant sand," said Joseph R. Kandle, president of Tri-Valley Oil & Gas Co.
Tri-Valley has worked on this well since it was drilled in 2000. The Company discovered huge quantities of extremely high quality oil and gas locked up in the deep zones, which are too dense to let the petroleum flow freely. Tri-Valley searched the world for deep well fracture technology and designed today's successful program. While the operation was executed successfully, it remains to be seen if it is sufficient to allow the oil and gas to flow at commercial rates or if further treatment will be needed. This will become known over the next few weeks as the well cleans up and expels the fracture fluid put into the zone, after which the oil and gas can follow.
"We are prepared to continue to pursue this discovery with multiple hydraulic fracture efforts if necessary because of the large amounts of oil and gas contained in the four different zones of the well. We believe this will ultimately produce exceptional reward for our shareholders and our drilling partners," said F. Lynn Blystone, president and chief executive officer of Tri-Valley Corporation, the publicly traded parent company.
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