Sawtooth Sees Success at Redwater Prospect
Sawtooth International Resources was successful with its second well of its planned 10 well Redwater drilling program. The well has been cased as a potential new pool gas well and will be completed and production tested during April. In addition, Sawtooth encountered a new oil pool that will be tested within the next 30 days. The Company has completed a 3-D and 2-D seismic program which has identified 11 potential oil locations consisting of 3-4 new pools and 5 potential gas locations.
Well licensing is proceeding with an 8 well drilling program planned following Spring break-up.
Three gas wells are in the process of being tied in. A successful production test is currently being finalized on a recently drilled gas well pending an AEUB Pooling Order. The company's existing Redwater 32 degrees API oil pool which has been producing since 1994, has a remaining index life of approximately 20 years. A new Electrostatic Crude Emulsion Treater has been ordered to increase oil treatment at the Redwater 3-7 battery facility. Installation is expected to be completed during May 2005.
Sawtooth is targeting a 2005 exit production rate of 1500 boed.
- Tristar Oil & Gas to Acquire Sawtooth International Resources (Jan 19)
- Sawtooth Sees Success at Redwater Prospect (Apr 06)
- Sawtooth to Bring Three Redwater Wells into Production (Feb 11)