Bridge, Paramax Prep First JV Well for Production Testing

Bridge Resources and Paramax Resources announced their first well in their joint drilling program in the Boise Basin, Idaho, the Willow Prospect M.L. Investments #1-10, has been successfully cased to 6,515 feet in preparation for production testing.

The drilling rig is now on the second location, Espino #1-2, to evaluate the 4,500 foot Plymouth Prospect. The well is expected to spud on March 26 and should take 5 days to reach planned total depth. Following the drilling of the Espino #1-2 well, the rig will drill the Island Capitol #1-19 well to evaluate the 5,000 foot Bolton Prospect. A completion rig will be mobilized mid-April following the drilling of the Island Capitol #1-19 well. It has been determined that the use of a completion rig for the production testing of successful wells is more efficient and economic.

The Espino #1-2 and Island Capitol #1-19 are 10 km south and 8 km northeast of the M.L. Investments #1-10 discovery respectively. The three wells are on separate structures but testing common reservoirs. The drilling locations are based on reprocessed seismic as well as geological information from previously drilled wells. The successful drilling of the M.L. Investments #1-10 confirmed the seismic interpretation and provides reservoir information that will be incorporated into development drilling plans.

Subject to production test confirmation, log analysis and seismic mapping indicate that the M.L. Investments #1-10 has encountered 40 foot conventional gas sand pay in two zones and a 400 foot fractured shale interval. The completion program will establish the potential flow rates.