Bayou Bend Petroleum Ltd. has committed to Hercules for their rig #49 to drill the Haystack Prospect in the State Waters of Louisiana in the Company's Marsh Island Project Area.
This is the first operated well by Bayou Bend in the Marsh Island Project Area in 2008, with an anticipated spud date by mid June. The Company has a 35.5809% working interest in the well.
The Haystack Prospect is located on SL #19149 and is a stratigraphic trap in the locally productive Tex W section in Block EI 2 of the Marsh Island Area. The play represents a possible extension of the single well, EI2 Tex W Field that has produced from a smaller structural-stratigraphic combination trap at the objective sand. The prospect will be tested with a deviated well to a depth of 10,800'TVD.
The Marsh Island Project Area comprises a quality portfolio of gas/condensate assets onshore/offshore in the Gulf of Mexico, which also includes a 40 MMcfgpd production facility that this well will be tied into if successful.
"Since completion of our six month Seismic Super Merge Project of four data sets in this area we are anxious to re-establish drilling activity in Marsh Island," said , President of Bayou Bend. "This exploration prospect is the first of 3 wells that we will operate in this project area."
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