Louisiana: Sonoran has signed a contract with Nabors Drilling for a rig to commence operations on three high value wells in Beauregard, Rapides and Vernon Parishes. The drilling rig is expected to commence operations late November / early December 2007. Sonoran's production profile should show significant growth with the successful completion of these well intervention operations.
West Texas: Sonoran's development program continues apace, with major activities focused on bringing several shut in gas wells into production by re-completing them, as well as installing artificial lift pumps on two producing wells to increase production rates.
East Texas: Sonoran has completed the installation of a number of significant facility upgrades in its central processing facility, stabilizing water disposal and increasing production from these high water cut wells. The work included new injection lines to the water disposal wells, a new large water tank and a new high capacity water disposal pump with a capacity of 12,000 BBLs/Day.
In addition, Sonoran is reviewing and updating its internal estimates of probable reserves to complement the external reserves report which focuses only on proved reserves. This work will allow Sonoran to more properly identify and exploit the upside potential of its existing properties.
Peter Rosenthal, Chairman and CEO said: "It is a very busy but exciting period for us here at Sonoran. We will continue to update our shareholders as key milestones are completed."
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