Bridge Resources Finds Positive Results for Durango Well
Bridge Resources Corp. announced that the Durango 48/21a-4z well has successfully tested at a rate of 42.5 million cubic feet gas and an average 1,341 barrels of 61 degrees API condensate per day on a 1" choke. This rate was constrained by the test facilities. Bridge has a 100% working interest in the Durango Well.
Following Field Development approval by the Secretary of State, Bridge plans to proceed with a tie-in to the Waveney Platform, operated by Perenco, located 14.3 km northeast. First gas is planned for October 1st 2008.
The Durango well penetrated 580 feet of near horizontal reservoir section within the top 15 feet of the gas column at a depth of 9,026 feet. Average porosity is 19% ranging up to 22% and protective sand screens were run in the well bore across the entire reservoir section. The well was drilled by the Ensco 100 jackup.
Bridge will commission an independent updated contingent resources report that it anticipates will confirm the previous estimate with no material changes. Following Plan of Development approval, the contingent resources would become reserves in accordance with National Instrument 51-101.
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