WW Energy reported the two wells have produced in excess of 46,000 barrels of oil. The porosity shows better going toward the west. The Swepi Gray is across the road due west of the Gray property; they border each other. We plan to set a directional shoe in wells #1 & #3 and implement a blast cutting tool that will cut a 4.5 inch horizontal hole in four different directions (four 50-foot horizontal legs).
The blast cutting tool will increase and expose more of the formation's face and producible area. The current formation production zone is 40-50 feet thick, per well, the procedure will render approximately 200-250 feet thick.
Total present Borden County field statistics and R.R.C. district 8-A September 2007 production totals 9.3 million barrels of oil and 1.85 BCF of gas per month.
After reworking of wells, we estimate production to be 20-50 barrels per day each.
Today's oil price is approximately $90.00 per barrel. Gas price is approximately $6.00 per 1000 CF.
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