Delta Oil & Gas beginnt Bohrungen eines zusätzlichen Bohrlochs im Owl Creek, Oklahoma
09.03.2007
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Delta Oil and Gas, Inc, (OTC:BB – DOIG) is pleased to announce that it has commenced drilling of a direct offset well to the successful Powell #2 at Owl Creek ( the “Isbill #2-36”) located in Garvin & McClain Counties, Oklahoma, USA (“Owl Creek Prospect”).
The entire Owl Creek Prospect has been totally reinterpreted over the past few months after integrating all the seismic data and the data obtained from the drilling of the “Powell #1”, the “Powell #2” and the “Isbill #1”. The Drilling of the Isbill #2-36 is to be drilled to a total depth of approximately 2,200 feet and the 3-D seismic survey indicates that the Isbill #2 well should be structurally very similar to the new field discovery characterized by the Powell #2 well. Three potentially productive zones are being targeted which include the current lower producing zone of the Powell #2. The same seismic survey also indicates other additional high potential locations for future testing.
The Company has a 20% working interest in this project.
Previously, the operator has successfully drilled three wells at the Owl Creek Prospect, in two of which Delta has an interest. The “Powell #1, in which we have no interest was successful and is producing. The Powell #2, in which we have an interest, is currently producing on average, between 100 and 150 barrels of oil per day along with approximately 40 to 45 mcf natural gas. From its completion in late June 2006, the well has produced over 30,500 barrels of oil and 8 million cubic feet of gas. The well is showing very little decline or depletion indicating that the producing reservoir and the associate field is larger than earlier believed. The “Isbill #1”, in which we had an interest, was drilled and based on preliminary logs, it was deemed not to be commercially viable and was plugged and abandoned. | |
