Aspen Exploration Set to Begin Gas Sales from West Grimes Well

Aspen Exploration Corp. on Tuesday announced a successful flow test on a prolific gas well located in the Sacramento Valley gas province of northern California.

The WGU #14-10 well, located in the West Grimes Field, Colusa County, California, was directionally drilled to a depth of 8,460 feet and encountered approximately 55 feet of potential net gas pay in several intervals in the Forbes formation. One of these intervals was perforated and tested gas on a 12/64 inch choke at a stabilized flow rate of 2,678 MCFPD with a flowing tubing pressure of 3,300 psig and a flowing casing pressure of 3,480 psig. The shut in tubing and casing pressures were 3,810 psig. Gas sales should commence in the near future.

The completion rig will be moving to the Heidrick #11-2 well, located in the Kirk Gas Field, Colusa County, California.

This was the thirteenth successful gas well out of thirteen attempts by Aspen in this field. Aspen is currently drilling the WGU #15-13 well and plans to drill three additional wells in this field this year on its 10,000 plus acre leasehold. Aspen has a 21% operated working interest in this field.

The Emigh #34-1 well, located in the Denverton Creek Field, Solano County, California, was recently perforated in the Petersen formation. This zone appears to have extremely low permeability and the well will be monitored and evaluated to determine if an acid job could enable this zone to produce at commercial flow rates.

In the Sacramento Valley, Aspen has drilled 32 successful gas wells out of 33 attempts during the last 3 1/2 years (97% success rate) and drilled 40 successful gas wells out of 45 attempts during the last 5 1/2 years, a success rate of 89%. Aspen currently operates 57 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 33 oil wells in Montana.