Aspen Exploration Ups Production from Sacramento Valley Gas Well

Aspen Exploration Co. on Monday said that it has deepened an existing gas well and increased production from this well to 3,000 MCFPD of natural gas.

The well, located in the Sacramento Valley gas province of northern California, was deepened 42 feet and is now producing 3,000 MCFPD from a 70-foot open-hole section in the Forbes formation. This was a substantial increase from the prior rate of 500 MCFPD. A potentially prolific 100' thick zone still remains behind-pipe in this well. This well has already produced approximately 200,000 MCF during the first 8 months of production. Aspen has a 21% operated working interest in this well.

Aspen's previously announced 11-well drilling program should commence in April.

In the Sacramento Valley, Aspen has drilled 29 successful gas wells out of 30 attempts during the last 3 years (97% success rate) and drilled 37 successful gas wells out of 42 attempts during the last 5 years, a success rate of 88%. Aspen currently operates 55 gas wells and has non-operated interests in 20 additional wells in the Sacramento Valley of northern California and has non-operated interests in approximately 40 oil wells in Montana.