The well encountered gas pay at a depth between 3150 and 3164 feet. Stallion expects the production rate to normalize at more than 200,000 cubic feet of sweet natural gas per day. The gross reserves are estimated to be 0.262 Billion Cubic Feet. This well has been completed and will be tied into our existing pipeline system as quickly as possible. The Randall #1 well drilled subsequent to the Buffalo River #2 well has been plugged and abandoned.
Of the six Frio wells recently drilled, five have been completed as natural gas wells. As a result of this recent drilling success, the Company plans to drill an additional 16 new exploration and development wells in Mississippi and Louisiana commencing as soon as surface preparations are completed. These site preparations are currently underway.
The company plans to drill an initial 50 wells within the area of mutual interest (AMI). Over 7500 miles of 2D seismic and 250 square miles of 3D seismic have already been shot. Stallion holds a 30% gross interest in this AMI in Mississippi and Louisiana.
The Stallion Group is an advanced oil and gas exploration and emerging early stage development company focused on its Mississippi and Louisiana exploration areas in the United States.
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