Brinx has drilled two successful wells at the Belmont Lake oil field project located in northern Mississippi.
The two successful directional oil wells, the PP-F12-4 and PP-F12-5, are located in close proximity to the original Belmont Lake oil field discovery well (PP-F12), drilled by Brinx and partners in late 2008. The new wells are believed to produce oil from pay zones with twenty-six and twelve feet of net pay respectively as confirmed by logs and sidewall core examination. Initial downhole testing indicates permeability ranging between 1000 - 3000 millidarcys and porosity of between 30 - 35 %, which confirms the generally excellent reservoir characteristics that have been seen at previous Belmont Lake wells. A third well was drilled in this program, but encountered only natural gas. The decision was made not to complete the natural gas well until prices improve from current levels.
"The success of this drill program will not only add two more oil wells to our growing portfolio, but it has also helped us to more clearly define what was expected to be the most north-west productive corner of the Belmont Lake oil field discovery," said Leroy Halterman, President of Brinx Resources. "Everyone is very satisfied that our seismic interpretations and geological expectations seem to have been confirmed by the outcome of these wells. We are now evaluating the large amount of new data generated by the program and expect to utilize it to identify several ideal locations for drilling of offset development wells at Belmont Lake in the near future."
During the next two to three weeks, field operations at Belmont Lake will focus will on further testing of the new wells, installation of the required infrastructure, and connection of both wells to the existing tank farm in preparation for expanded oil sales.
Brinx holds a 10% gross working interest (8.5% net) in the four current Belmont Lake oil field wells (PP-F12, PP-F12-3, PP-F12-4, and PP-F12-5) and holds the right to participate in all future exploration and development of the project.
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