Oil Flows at Breezer's Tx. Well
Breezer announced that their first well of a ten well rehabilitation and production development program in Callahan County, Texas, has successfully established oil flow in Jackson #6 Well. The drilling program was able to re-open Well #6 and discovered a considerable amount of free oil and oil pressure build-up.
The Company's field operator, Whitt Oil and Gas, and project manager, Firecreek Global Inc., both stated: "we've re-entered and deepened Well #6 (the former Magnolia/Mobil Oil well) and we are very encouraged by the amount of free oil encountered while drilling deeper into the Moran Sand."
The Company plans to utilize modern oil stimulation techniques, which will enhance the production rate of Well #6 once in full production. The field operator, Whitt Oil and Gas, will complete the final stage of drilling and completion phase and start production testing of Well #6 later this week. The well also has proven Tannehill, Cisco, Cook and Palo Pinto oil and gas formations, which the Company plans to develop in the future.
Breezer Ventures Inc. has ten (10) existing oil and gas wells that are currently in for rehabilitation and reactivation on the Jackson Lease, which contains 870 acres, and is situated on the western side of the Bend Arch in the Fort Worth Basin. The lease is situated 5 miles north of Baird, Texas.
The Company's objective is to develop stable long-term oil and gas production from the proven formations located on the Jackson Lease at very low capital costs. This project is expected to yield stable cash flow for years and will be profitable especially with oil prices at current record levels.