The initial well in our inventory, the Brayton Operating Corp. #1 Heller, has been successfully completed and is currently in the process of being connected into a sales line. First sale of natural gas is expected in November, 2005. Petro Resources has a 6.25% working interest in the well.
The second well in our inventory of Frio prospects, the Everest Resource Company #1 Simmental, is awaiting a completion rig. The completion rig is currently expected to become available in mid November, 2005. Petro Resources has a 10.00% working interest in the well.
The fourth well known as the Brayton Operating Corp. Diebel C-1 has a drilling rig on location and is currently rigging up. Petro Resources has a 6.25% working interest in the well.
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