The well logs and drill cuttings are strongly indicative of potentially economic oil and gas shows. A drill stem test recovered gas at surface in 15 seconds, and oil at surface in 20 minutes from the pay zone that is at approximately 5,500 feet. The Bromide sand is providing between 8 and 10 feet of net pay with average porosities of 14%, and was encountered structurally high to the Powell #2 well.
In addition to the 1st Bromide zone a second prospective zone -- the upper Viola -- was also identified in the well logs. This zone appears to be 15 feet thick and lies at a depth of approximately 5,200 feet.
The Powell #2 well, also at the Owl Creek Prospect in McCain County, Oklahoma, has been flowing naturally under its own pressure for nine months. The well is still flowing at a rate of 120 barrels of oil and 40 mcf of gas per day. The well is showing very little decline or depletion indicating that the producing reservoir and the associate field is larger than earlier believed. The successful drilling and testing of the Isbill #2 has now further confirmed this supposition. Completed over nine months ago, the Powell #2 has produced over 33,000 barrels of oil and 9 million cubic feet of gas.
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, Oklahoma (40% interest); the Owl Creek Project in McClain County, Oklahoma (42.5 to 50% interest); and the Palmetto Point Project in Mississippi (8.5% interest). Brinx Resources is seeking to expand its portfolio to include additional interests North America.
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