Brinx Resources and its partners have successfully recompleted one of their existing wells in Oklahoma, resulting in a significant new productive oil and gas pay zone.
As in many other Brinx Oklahoma wells, the recompleted 2009-3-1 well intercepted a number of potential oil and gas bearing horizons. Standard industry practice is to test the lowest potential pay zone first, which may not be the best zone in the well. Since production from the lower zone of 2009-3-1 had declined to less than 50 barrels of oil per day, the decision was made to reenter the well and complete the next potential pay zone.
The new pay zone was perforated and immediately started flowing oil and natural gas without treatment. The zone flowed naturally and produced at a rates of over 500 barrels of oil per day and almost one half million cubic feet of natural gas per day. Oil production has since been choked back to 300 barrels per day to preserve reservoir quality. Well logs indicate that additional potential oil and gas bearing zones lie above this pay zone. However, it is anticipated that it may be at several years before these zones are completed and tested.
"This is the first of several anticipated completions of successful wells at our Oklahoma Projects," said Leroy Halterman, President of Brinx Resources. "Now that the long, harsh winter season is behind us, we expect to move forward rapidly with completions at other Brinx discoveries."
Currently, there are three recently drilled and successful Brinx wells in various stage of completion with results expected to be available within the next two weeks. Brinx is also committed to participate in nine more wells planned to be drilled in Oklahoma, Mississippi and California during 2010. One of these wells is an offset to the 2009-3-2 well that has been producing naturally for three months and is still producing between 280 and 300 barrels of oil per day.
All of Brinx's producing wells and planned future wells are located onshore and recent events in the Gulf of Mexico should not impact our business or growth and development strategy.
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