Touchstone Makes Another Hell Hole Bayou Discovery
Touchstone Resources reports a new field discovery. The operator of the SL1614 #2 well located in Vermilion Parish, La., has advised that the well reached TVD of 17500FT. and encountered 79 net feet of pay in the Marg. "A", "N" and "O" sands. Numerous other pay sands were encountered as well and are being evaluated. Casing is currently being run to depth and cemented and the well will be completed over the next two weeks. Production will follow immediately after completion.
Touchstone holds leases on 5,000 surrounding acres. Based on 3D seismic data, the "O" Sands and Marg. "A" Sands appear to be present in over 70% of the acreage. Touchstone can drill up to 16 more locations on the acreage at this horizon. In his report dated Dec. 19, 2002, Chris Barden, registered Professional Petroleum Engineer, stated that the "O" sand produces from 6 wells in the Redfish Point Field several miles due north of the discovery. On trend, the objective sands have produced 10 to 50 billion cubic fee of gas per well.
Mark Bush, president of Touchstone, stated, "We are very fortunate not only to discover a new well but also to have a field discovery. We have shallow bright spots to drill on the northern portion of the acreage and 3,000 acres of closure at the deeper Siph Davisi interval which we hope to drill this summer."