Aspen Exploration Successfully Tests Sacramento Valley Well

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

The Heidrick #11-2 well, located in the Kirk Gas Field, Colusa County, California, was drilled to a depth of 8,300 feet and encountered approximately 145 feet of potential gross gas pay in several intervals in the Forbes formation. One of these intervals was perforated and tested gas on a 1/4 inch choke at a stabilized flow rate of 5,047 MCFPD with a flowing tubing pressure of 3,490 psig and a flowing casing pressure of 3,760 psig. The shut in tubing pressure was 3,700 psig and the shut in casing pressure was 3,850 psig. The well only experienced a 6% pressure drawdown while flowing at the prolific rate of 5,047 MCFPD, which is indicative that this zone is capable of flowing at a higher gas rate. Gas sales should commence in the near future. Aspen has a 41.60% operated working interest in this well before payout and a 46.55% operated working interest after payout.

This was the fifth successful gas well out of six attempts by Aspen in this field.

Aspen is currently drilling the WGU #15-13 well located in the West Grimes Field, Colusa County, California.

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 58 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.