Petrosearch Completes 6th Well in Blue Ridge Dome

Petrosearch's subsidiary, TK Petrosearch, has begun setting production casing on the West Schenck B-24 well in the Blue Ridge Dome field, near Houston in Fort Bend, County after logging and core analysis indicated multiple productive pay zones between 3,700 and 4,400 feet deep, marking the sixth consecutive well to be drilled and completed in the field.

TK Petrosearch's first two wells in the Blue Ridge Dome field have been producing at the maximum field allowable since coming online in the last quarter of 2003, Petrosearch said. The other four wells, including the West Schenck B-24, are in various stages of the completion and production process. TK Petrosearch plans to place all four wells on production within the next 20 days.

Three of the four wells being prepared to come online in the Blue ridge Dome field were part of a three-well drilling program announced earlier. That program has been expanded to encompass 6 wells, following a recent expansion of TK Petrosearch's acreage holdings in the field.

Petrosearch announced further that TK Petrosearch has begun recompleting and reactivating abandoned wells drilled decades ago on its acreage by previous operators, to capitalize upon high wellhead prices. To date, two recompletions have begun producing a combined 50 b/d of oil and a third abandoned well is under evaluation. Cumulative production from low-cost recompletions is expected to significantly increase the ultimate recovery of TK Petrosearch's Blue Ridge Dome redevelopment program.