Aspen Hits New Gas Pool

Aspen Exploration has drilled a new gas well located in the Sacramento Valley gas province of northern California.

The Delta Farms #10 well, located in the Butte Sink Gas Field, Colusa County, California, was directionally drilled to a depth of 5,600 feet and encountered over 100 feet of potential gross gas pay in several intervals in the Forbes and Kione formations. Production casing was run based on favorable mud log and electric log responses. If the Forbes intervals prove to be productive in this well, it will be a new pool discovery for this field, which has produced over 7.5 BCF, primarily from the shallower Kione formation. Aspen has additional potential locations based on 3-D seismic data and well control on its 1,000 acre leasehold in this field. Aspen owns a 38% operated working interest before payout and a 44.3% working interest after payout in this well.

In the Sacramento Valley, Aspen has drilled 38 successful gas wells out of 41 attempts during the last 4 years (93% success rate) and drilled 46 successful gas wells out of 53 attempts during the last 6 years, a success rate of 87%. Aspen currently operates 64 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 27 oil wells in Montana.