Delta Oil & Gas stößt auf zwei potentielle Vorkommen bei Isbill #2 im Owl Creek, Oklahoma
28.03.2007
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Delta Oil and Gas, Inc, (OTC:BB – DOIG) is pleased to announce that drilling to a total depth of 5,700 feet on its Isbill #2 well at Owl Creek, Oklahoma has been completed. Initial logs revealed two potential pay zones and the operator has recommended the running of production casing to fully test multiple prospective pay zones.
The primary target for the Isbill #2 well was the 1st Bromide "C" Sand which was discovered at 5,497 feet. Good hydrocarbon showings were observed on the mud log in the 1st Bromide "C" Sand from 5,502 feet to 5,510 feet. A drill stem test was run over this interval and recovered natural gas in 15 seconds and oil to the surface in 20 minutes. No water was found in the test. Electric logs further confirmed that the 1st Bromide Sand would be commercially productive with average porosities of 14% and water saturation of 21%.
In addition to the approximate 8 feet of pay mentioned above, there is the potential for an additional pay zone between 5,190 feet and 5,212 feet in what is known as the Upper Viola Limestone. Water saturations at this depth are 52%. Production casing is expected to be run to facilitate further testing in the next two weeks.
Overall, the Owl Creek Prospect has been outstanding for Delta. The Powell #2 continues to flow at rates exceeding 120 barrels of oil per day and approximately 40 to 50 mcf gas per day and to the end of February 2007, the well has generated almost double the amount of our initial investment in this well. With the additional potential production from the Isbill #2, the revenue stream from Owl Creek should substantially increase.
Delta has a 20% working interest in this project. | |
