Touchstone Provides Update On Drilling Activities
|Thursday, June 21, 2001
Touchstone Resources USA, Inc. announced that the S.L. 16141 #1 is currently drilling at 13,633' on its way to 21,000'. The well has planned to set protective casing strings at 16,000' and 18,400' and it is anticipated that the wildcat will reach TD in 75 days. The primary objective is the Dicorbis B. 30 interval (also lower Siph. D.) which is productive at Freshwater Bayou 8 miles to the west. At Freshwater Bayou, equivalent sands have produced over 350 BCF from 7 wells since 1994. It is estimated that these wells will ultimately yield more than 600 BCF. Based on 3-D seismic data and down-dip well control, the prospect is estimated to have reserves of over 300 BCF. Shallow pay may also exist in the Marg. A. and Siph. D. below 16,000' and 17,000', respectively, which are productive from the Redfish Pointfield to the north. The North Hell Hole Bayou prospect is fault separated with counter-regional dip from the Redfish Point production.