Eldorado to Test New Mexico Well
Eldorado Exploration Inc. has contracted a workover and completion rig to test 195 feet of porosity in its Mesa #1, a 7000 Ft. Roosevelt County, New Mexico well. The rig is expected to be on site on or about April 10th and the results of the tests and reserves estimates should follow in 18 - 20 days. The Mesa #1 found 90' and 80' of porosity and permeability with indications of gas in two zones and the expectation of gas with oil potential in the Granite Wash Zone at 7000' - 7025'.
The Company has two additional lease blocks totaling over 30,000 acres on PIP identified prospects located west of the 11,300 acre Mesa play.
Eldorado Exploration, Inc. is an independent oil and gas company that utilizes a process called Passive Induced Polarization 'PIP' to detect electrostatic signals given off of some geological anomalies. In most cases, a positive response indicates a hydrocarbon accumulation and a negative reading is almost always a dry hole. When used with the standard geological tools and methods, the PIP process enhances the odds of success for discovering oil and gas.
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