Bayou Bend says its Mustang Island 736 #1 has been drilled to a depth of 12,021' MD. The well will be fully evaluated at this point before any further drilling activities are performed. Operations are currently underway to evaluate the primary zones of interest including wireline logging, sidewall cores and pressure sampling (MDT). Based on the results of this data, a decision will be taken on whether to complete the well for testing or production. The well is located approximately 30 miles from the Texas coastline in 155 feet of water. Hercules Rig 253 is being utilized to drill this well. The prospect is a geopressured Marg A test on a large structural trap that is supported by amplitude anomalies and AVO analysis. The Company has a 100% interest in the well.
Trading of the Company's common shares was halted on Friday, September 28, 2007, at the request of the Company, due to pending results from the well. Mechanical problems with the well over the weekend temporarily delayed evaluation.
Bayou Bend is an oil and gas production and exploration 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 in several Federal OCS blocks offshore Louisiana and Texas. The Company has an aggressive drilling program planned for 2007 including a minimum of 7 exploration wells.
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