The Company's well is offsetting a Sawtooth formation test first drilled in the 1990s. Interpretation of available well log data indicates that the original well encountered over five meters of potential gas pay in the upper Sawtooth. Based on a valid closed-chamber DST, the original well tested over 3 mmcf/d of gas. Although it was later abandoned due to water invasion after perforating the zone, the Company suspects that poor completion methods were responsible for unexpected water invasion problems near the gas water contact. In late 2005, Winslow acquired and interpreted seismic data that identifies structural positions more favourable then the original well location.
"The Company believes that an offsetting well with the higher structural position and a completion program designed to more effectively complete the top of the Sawtooth formation may deliver significantly better results," says John Nelson, President of Winslow. "The Sawtooth formation can be very productive in this area and we hope to continue exploring the considerable gas potential shown in this play."
Winslow will have a 50 percent working interest in the well before payout and a 30 percent working interest after payout. The Company will earn two sections of land and have a rolling option on five additional sections. A second location has been identified and will be drilled pending results of the first well.
Winslow Resources Inc. is a Calgary-based junior oil and gas company engaged in the exploration for and development and production of natural gas and oil reserves, primarily in the provinces of Alberta and Saskatchewan. Winslow is listed on the TSX Venture Exchange and trades under the symbol "WLR".
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