Output Exploration Makes New Field Discovery

Output Exploration revealed that its Fahn #1-33 well, located in Yolo County, Calif., approximately 15 miles southwest of Sacramento, has resulted in a new natural gas field discovery.

The Fahn #1-33 was drilled to a depth of 8,380 feet and encountered 70 feet of net gas pay in the Winters formation. The well produced at a rate of 2,270 Mcf per day at a flowing tubing pressure of 2,830 psig on a 12/64-inch choke in an extended initial production test. The well's shut-in tubing pressure was approximately 3,000 psig. OPEX holds a 75.0% working interest in the Fahn #1-33 and is evaluating offset potential.

"The Fahn prospect represents a significant milestone in our California operations," said Robert A. Brook, OPEX's president and CEO. "While we have drilled several field extension wells in the Sacramento Basin, the Fahn #1-33 is the first new field discovery to result from our extensive geophysical and geological analysis in this area. OPEX has developed a database of over 700-square miles of current 3-D seismic data, integrated with over 2000 wells. As such, this discovery is a confirmation of the value of our extensive reprocessing and interpretive work including advanced digital processing, inversion, and pre-stack depth migration techniques."