Haas-Hirsch No.1 well encountered what are indicated by mud and electric logs to be two geo-pressured, gas-bearing Cockfield sandstones at measured depths of 10,252 feet to 10,294 feet; and, 10,616 feet to 10,634 feet respectively. Porosity log and micro log data obtained from the well indicates the upper sand contains a minimum of 15 net feet of potential gas pay, while the lower sand contains a minimum of 16 net feet of potential gas pay. A service rig has been contracted and testing of the Haas-Hirsch No. 1 well is anticipated to commence within two weeks. Test results and initial flow rates will be announced after completion and testing.
Gulf Oil discovered Krotz Springs Field in 1942 with the drilling of the Haas-Hirsch # E-1 well. Most of the 900+ BCF of gas production at Krotz Springs has been derived from sandstone reservoirs in the Lower Frio and Cockfield Formations. The Krotz Springs Field has been a prolific gas/condensate field throughout its 60 year history.
Other Cockfield and Frio reservoir targets have been identified within the approximately 4500 acre Unit farmout area. COGC and its partners are planning to pursue these additional targets pending the successful completion of the Haas-Hirsch No. 1 well. COGC has a 25% working interest in this well and any future program in the unit.
The Haas-Hirsch No. 1 well was directionally drilled from the surface location of a previously producing well. As such, pipelines and facilities exist at the location which could be utilized for this well. Therefore, following successful completion and testing of the Haas-Hirsch No. 1 well, commercial production could commence in short order, utilizing these existing facilities.
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