Brinx Resources reported that the drilling has been completed on the 2008-3 Drilling Program. Four of the five wells in the program were successful and production casing has been set on all four successful wells. All of the successful wells encountered multiple potential pay zones. The first well in the program has been completed and completions of the second and third wells are underway.
The first well completed was perforated over a large interval and then fracture treated. After recovering a minimal amount of the water used to fracture treat the well, the well started flowing load water, oil and natural gas. Currently the well is producing and selling natural gas at commercial rates and the produced oil will be sold as soon as a separator is installed. The second well in the program has been perforated, acidized and fracture treated. The load water is currently being recovered and with only 37% of the load water recovered the fluid from the well already contains good shows of oil and gas.
The third well has been completed in the lowest pay zone and during testing flowed significant volumes of natural gas at relatively high pressures. Additional work on this well and the fourth well which is anticipated to be an oil well has been halted by recent heavy rains in the area. Work on these wells should resume next week weather permitting.
Targeted pay zones for various wells in this program included the prolific Oil Creek and Bromide Sands, Viola Limestone, Deese Sandstone and Layton Sandstone.
The recent drop in drilling and completing costs within the oil and gas sector has encouraged Brinx to resume its exploration activities. It is anticipated that the successful wells in this program will lead to additional development wells that can be drilled when oil and gas prices have recovered. These potential well locations and those that already have been identified on Brinx's other two prospects, both which are still producing economic quantities of oil and gas, should give Brinx ample locations to drill in the future.
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