This initial phase of the Owl Creek Project is to re-enter the two wells noted and wash them down to hydrocarbon bearing zones that calculate productive in the electric and radiation logs. These zones were never previously tested.
Drilling of the Powell #1 started November 23rd and was completed to a depth of 5763 feet. On November 29th production casing was set, and completion and testing of the Powell #1 well will start as soon as a completion rig becomes available.
The Johnson #1 well wash down has started. Once complete, production casing will be set well below where logs show three potentially productive zones and the mud log indicates significant gas anomalies in these zones.
The Powell #1 and Johnson #1 wells are located over a mile apart and should one or both of these wells be productive, it would indicate that a significant oil and gas field could exist. The Company's land position covers most of a large 3-D seismically defined structure.
In addition to the Owl Creek Project, Brinx Resources also holds a 40% working interest in two wells and 880 acres in the Three Sands Project that is in the process of completing one disposal well and one production well. Brinx intends to more fully develop these assets with numerous wells, subject to successful exploration and completion work during these initial phases.
By way of modern technology, combined with historical data, Brinx expects a substantial economic opportunity exists to locate new fields as well as to recover additional oil and gas reserves. The Company is also investigating additional energy-related opportunities on an ongoing basis.
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