The prospect is a Lower Miocene deeper pool test on a high relief fault closure that has produced over 100 BCF from shallower Middle and Lower Miocene sands. The Bayou Hebert field is located 26 miles northwest of the Company's Marsh Island project in Iberia Parish, Louisiana. Nabors Rig 301 was mobilized to the site and spudded on August 10, 2007.
The Company has a Participation Agreement for oil and gas exploration rights on 2,899.9 acres which includes the large LaPosada prospect. Bayou Bend will earn a 21.875 percent working interest in the initial well and in future wells located on the associated acreage.
Clinton W. Coldren, President and Chief Executive Officer of Bayou Bend, commented, "It's been a busy and exciting summer for the Company. Our first well was a discovery and is in production and we now have 4 other wells currently being drilled with several more yet planned this summer."
Bayou Bend is an oil and gas exploration and production company with a focus in the Gulf of Mexico shallow water shelf area. The Company has lease interests in the State Waters of Louisiana near Marsh Island and owns a 100% interest in several Federal OCS blocks offshore Louisiana and Texas. The Company has an aggressive drilling program planned for 2007 including a minimum of 8 exploration wells.
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