Novus Hits At Padre Island

Novus Petroleum has discovered gas with the first well of its Padre Island exploration program in the onshore Gulf of Mexico.

The La Playa-1 well encountered six gas bearing zones, five of which have a total net pay of over 50 feet. Another 40 feet may be present in the sixth zone. The well is to be completed for production with a smaller completion rig and then tied into the local gas trunk line, which is about 100 meters from the wellhead. Output is expected to begin within a few weeks of the smaller completion rig departing the site. The next well planned in the program is the Murdock Deep-1 well. This prospect is expected to have a significantly larger volume potential than La Playa. Novus Managing Director Bob Williams said the success had proven the effectiveness of modern 3D seismic technology in identifying previously bypassed shallow prospects.

The partners in the La Playa well are Novus (30%), BNP Petroleum (25%), Mitsui Oil (15%), KCS Resources (20%) and Golden Gate Resources (10%).


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