Brinx Resources Confirms Oil Discovery at OK Project
Brinx Resources successfully completed the lowest section of the second well at the 09-3 Oklahoma Project. Initial flow test results of the 09-3#2 well confirm that this represents a significant new oil discovery.
Since perforation, the lowest tested section of the 09-3 #2 well has flowed at rates in excess of 200 barrels of oil per day with an additional 20 mcf of natural gas. Recently, daily flow rates were recorded at 252 bbls of oil, 23 mcf of natural gas, and 23 bbls of water.
Subsequently, the 09-3 #2 well was place into production and is currently generating both oil and gas revenues for the partners.
Electric and radiation logs also indicate the potential for numerous additional high potential pay zones above this tested zone, including one that is known to have flowed oil and gas to the surface during earlier drill stem testing.
"The successful completion of this well is a significantly positive milestone for our Company," said Leroy Halterman, President of Brinx Resources. "The entire Brinx team is looking forward to utilizing our growing financial strength and expertise to continue developing additional opportunities and increase shareholder value."
The 09-3 #2 well is part of a four well drill program located in the same geographic area as a highly successful Brinx and Partners well drilled in the 08-3 program. Each of the three remaining 09-3 Oklahoma Project wells are at various stages of completion prior to production. This process is ongoing.
- Brinx, Partners Complete Development Oil Well in Oklahoma (Sep 07)
- Brinx, Partners to Drill Development Well in Oklahoma (Jul 12)
- Brinx Charges Ahead in Southern Ok. Seismic Program (Mar 29)