Seismic data indicate that the Isbill #1-36 well should be structurally very similar to the successful Powell #2 well. This includes both the current lower producing zone in the Powell #2 and the additional prospective pay zones (including the upper Viola).
At present, the Powell #2 continues to flow naturally under its own pressure. During its first 18 days of production, the well has sold a total of 3,658 barrels of oil. It is also currently selling up to 60,000 cubic feet of natural gas per day.
"The seismic data looks very favorable for the new Isbill well, particularly when we compare it to the Powell #2 data, and measure it against the Powell's current success," said Leroy Halterman, Brinx’s president. "Identifying and drilling this first new well location is another positive step towards developing Brinx's new Field discovery at Owl Creek."
Brinx Resources hold a 50% working interest in the 1,200 acres in the Owl Creek Prospect. In addition to the Trenton zone of the Viola, other wells in the immediate vicinity have had oil and gas shows in the upper Viola, Hunton, Hart, Bromides, and Gibson zones. Additional drilling will help further define the project potential in these other pay zones.
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 in Mississippi (10% interest). Brinx Resources is seeking to expand its portfolio to include additional interests North America.
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