The sidewall core analysis and logs of Well -36-2 indicate two Frio Gas zones totaling 14 feet of pay. The first zone appears from 1,874 feet to 1,879 feet and the second from 2,755 feet to 2764 feet in depth. The F36-2 Well was drilled to its completed depth on July 1, 2006, and casing has been run. The F-36-2 Well is now awaiting a completion unit.
The F-36-2 was the seventh of the 10-well program at Palmetto Point. To date, five of the seven wells have found natural gas zones and two of the five have found both natural gas and oil pay zones. All five wells have been cased, and four of the wells should be selling natural gas within the next several weeks.
Brinx has 10% gross working interest in a 10-well drilling program at Palmetto Point. Targets are primarily but not exclusively natural gas, and the operator has already shot and analyzed extensive areas of 3D seismic and identified more than 80 drill targets.
The operator for the drilling program, Griffin & Griffin Exploration, will facilitate all aspects of the program: drilling, logging, testing, completing, and equipping for production all 10 wells. Griffin & Griffin anticipates drilling to a subsurface depth equal to such depth as is necessary to penetrate the sands of the Frio Formation, identified as potentially productive of oil and/or gas. Griffin has drilled, owned, or operated more than 100 Frio wells in the region.
Brinx Resources is an expanding exploration company focused on developing North American oil and natural gas reserves. The company's current focus is on the continued exploration and development of its land portfolio comprised of working interests in the Three Sand Project in Noble County, Okla. (40% interest); the Owl Creek Project in McClain County, Okla. (50% interest); and the Palmetto Point Project. Brinx is seeking to expand its portfolio to include additional interests North America.
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