Austin Boasts Early Acid Stimulation Success at Polecat Creek Well

Austin Exploration has noted the success of its recent acid stimulation procedure on the Ezell 4-H (Polecat Creek) well in Falls County, Texas USA.

"Although production rates will not stabilize until the remaining fluid is fully recovered, the Company is pleased to announce these very positive early results from the stimulation," Austin's Managing Director, David Schuette, said.

The well has seen an increase from a pre-treatment daily production rate of 15 mcf of natural gas to a post-treatment high of 190 mcf of gas with an additional 5 barrels of oil per day.

Austin anticipates daily production to stabilise between 200 mcf and 350 mcf per day of natural gas and 3-5 barrels of oil per day.

"The operator anticipates that the well will continue to unload fluid for approximately two more weeks," Schuette said.

The acid treatment procedure at Polecat Creek was designed to increase the drainage radius and increase the permeability of the oil and gas production zone. Initial success indicators first became evident on October 17th when the casing pressure exceeded 700 PSI.

The Polecat Creek well is currently delivering gas and oil to sales and will continue to do so while the well unloads the remaining frac fluid. The stimulation procedure has cost the Company US$12 506.55.

Austin maintains a 35% working interest and a net revenue interest of 26.25% in the Polecat Creek well.