Aspen Successfully Tests Sacramento Valley Gas Well

Aspen Exploration Corp., with offices in Bakersfield, Calif., and Denver, Colo., reported a successful flow test on a prolific gas well located in the Sacramento Valley gas province of northern California.

The WGU #15-13 well, located in the West Grimes Gas Field, Colusa County, Calif., was directionally drilled to a depth of 8,300 feet and encountered approximately 50 feet of potential 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 1,764 MCFPD. The shut in tubing pressure was 4,020 psig and the shut in casing pressure was 4,030 psig. This was the fourteenth successful gas well out of fourteen attempts by Aspen in this field. Aspen plans to drill three additional wells in this field this year on its 10,000 plus acre leasehold. Aspen has a 21.0% operated working interest in this field.

Aspen recently drilled a dry hole, the Reason Farms #18-1, located in the Grimes Gas Field, Sutter County, Calif., and is currently drilling the Nelson #1-10 well, also located in this prolific gas field.

In the Sacramento Valley, Aspen has drilled 33 successful gas wells out of 35 attempts during the last 3 1/2 years (94% success rate) and drilled 41 successful gas wells out of 47 attempts during the last 5 1/2 years, a success rate of 87%. Aspen currently operates 59 gas wells and has non-operated interests in 21 additional wells in the Sacramento Valley of northern California and has non-operated interests in approximately 33 oil wells in Montana.