The Tulemore Dew # 1 well is drilled to a depth of 3185 feet; the Miller-Thomas # 1 is drilled to a depth of 3166 feet; and the Bushmill # 1 well is drilled to a depth of 3196 feet. All three wells had good gas shows while drilling and contain very promising log results. With casing set, the three wells are awaiting a completion rig and the wells are scheduled for testing and interconnection to the gathering system within 45 days.
The Shamrock Project is a three wells Frio-age prospect identified through 3-D seismic. The project target formation is the Jameson sand at 3200 feet. Frio-age wells have proven to be prolific natural gas producers throughout the Texas Gulf Coast region. Typical Frio wells produce at approximately 200 to 250 Mcf per day with estimated total recoverable reserves of approximately 500 million cubic feet. Gulf Western holds a 90% working interest in the project.
Brushy Creek Project Update: Weather causing obstacles have been overcome; three locations have been completed; and the drilling rig is on location at the Davidson # 1 well with a scheduled spud date of May 12, 2007. The Brushy Creek Project is a 3-D seismic controlled project situated in the prolific Oligocene Frio oil and gas trend located in the Texas lower gulf coast. The company holds interests in a total of 10 wells to be drilled in the Brushy Creek Project. The Brushy Creek Project lies within the general area of the recently successful eight well Brushy Creek and two well Bennett projects that have resulted in six Frio discoveries, three Miocene discoveries, and one Yegua completion. The Brushy Creek Project, located in Lavaca County, Texas, is directed toward numerous high-quality amplitude anomalies very similar to those that have proven productive by previous drilling. During April 2007 Gulf Western increased its position in the Brushy Creek Natural Gas Project to an overall average of 43.5% working interest.
President Sam Nastat stated: "We are very pleased with the drilling results in the Shamrock Project and are looking forward to the test results. And we are especially pleased with the break in the weather in Lavaca County. Scheduling is now such that we will have 13 Frio wells drilled and completed within the next six months."
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