Tri-Valley Completes Elk Ridge Well
|Monday, January 12, 2004
Tri-Valley Corporation completed drilling its Elk Ridge natural gas prospect 35 miles northwest of Bakersfield, California, with encouraging results. Natural gas shows from the mud log while drilling were confirmed by readings from a standard suite of open hole logs and seven prospective intervals have been identified for testing from 2,700 feet through 4,400 feet.
"Everything came in as planned except that we have even more prospective sands than we expected and we are 350 feet high to the Nuevo well about 3/4 of a mile away, which flowed at commercial rates," said Joseph R. Kandle, president of Tri-Valley Oil & Gas Co., the operations subsidiary.
With a target potential of 25 billion cubic feet, the Elk Ridge Prospect is one of Tri-Valley's inventory of two dozen very large target plays ranging up to potentials in the three trillion cubic feet range.
"We are extremely pleased with Elk Ridge results to date as we include it with wells on three other prospects we are now testing for commercial completion. We are confident one or more of these will be commercial and deliver exponential gains for our shareholders," said F. Lynn Blystone, chief executive officer of Tri-Valley Corporation.