Alamo Updates on April's Operational Activities
Alamo Energy provided an operational update for April, which includes entering into a re-entry program on 453 acres and continued production from its Texas wells.
Texas – Jack D Hubbard Lease Development, Brown County
Alamo has entered into a well re-entry program on the Hubbard 1-H well, which is located on 453 acres. The well which has full Schlumberger Triple Combo data showing logged pay with strong mud log shows and was originally drilled targeting the Barnett formations.
Due to mechanical issues during completion the well is cemented in at the Duffer zone and only producing from the Caddo formation. The target of the re-entry program is to complete the Duffer formation, which we anticipate to produce initial flow rates after perforations and fracing of 500 mcfg/d and 8bblso/d.
Upon successful completion, we believe there is also the opportunity to further develop the acreage by drilling new wells, including targeting the Barnett formation.
Texas – Lozano Lease, Frio County
Our producing wells in Texas have continued to produce without significant downtime or requiring major maintenance work.
United Kingdom – Wessex/Weald Province Lease, Southern England
Field work for the Permit Feasibility study on Alamo's four UK onshore license blocks (TQ26, TQ36, TQ46, TQ56) has now been completed and is currently being analyzed along with existing data in order to define the seismic survey route.
Kentucky – H.V Taylor Lease, Gradyville Oil Field, Adair County
Drilling on the Lease is expected to commence early May. The wells will target the Murfreesboro Formation and the Knox Formation at an estimated projected total depth of 2,000 feet.
Philip Mann, Alamo's Chief Financial Officer, commented, "We are making good progress in the development of our current projects, and subject to continued financing, we intend to pursue an aggressive growth program, which we believe has been demonstrated by another new project this month."