Foothill Res FTRS.OB oder WKN: A0JKK1

  • schöne Meldung von Stockcom

    und heute geht es wieder nach oben !!

    die Gasreserven in den US schwinden, da kommt diese Produktionsaufnahme gerade recht und mit russischem Oel gibts auch Probleme

    Siehe auch den schönen Chart !!!

    Foothills Resources, Inc. Commences Natural Gas Production From Vicenus 1-3 Well in California

    Foothills Resources, Inc. (OTC Bulletin Board: FTRS) recently announced that commercial production has started from the Foothills California Vicenus 1-3 well in the Grizzly Bluff natural gas field in Humboldt County, California. The well was placed on production on January 15, 2007 and has been producing at daily rates between 30,000 and 180,000 cubic feet of gas and 20 barrels of formation water.

    The Vicenus 1-3 well reached total depth of 5,747 feet on August 12, 2006. Logs and a significant gas kick verified the presence of natural gas in the primary objective sands in the Lower Rio Dell Formation. As a result of the gas kick, a portion of the lower section of the hole which contained a highly productive gas zone had to be cemented back and could not be included in the final completion. A slotted liner was set across indicated pay zones in the interval between 5,700 feet to 4,300 feet and the well tested over a ten-day period at daily flow rates from 50,000 to 500,000 cubic feet and 25 barrels of formation water.

    The well was shut in after the initial testing and additional facilities were installed to treat the produced water. Regulatory approval to dispose of the produced formation water was received January 8, 2007 and production testing resumed on January 15, 2007. Vice President of Engineering Mike Moustakis commented, \'Initial production characteristics suggest that the installation of a plunger lift system should aid in the removal of wellbore fluids and increase gas production. We have installed this system and are currently fine-tuning its operation.\'

    Foothills President John Moran stated, \'We are pleased that the Vicenus 1- 3 well is now on production, which completes another requirement of the project earning obligations. We plan to test the high potential gas zones encountered at the bottom of the well in our Future drilling. Importantly, the locations of new wells at Grizzly Bluff are expected to be based upon the 3D seismic survey which was completed January 19, 2007. The seismic data is now being processed and will be interpreted prior to commencing drilling operations this summer.\'

    Mr. Moran also noted, \'Water production, which reduces gas production, is not common in Eel River Basin and we believe it may be sourced from a fault zone that was cut in the Vicenus well. Production rates from future wells with a modified completion are anticipated to be more analogous to three adjacent wells where rates as high as 5 million cubic feet of gas per day were achieved when drilled and tested in 1964. These wells were later abandoned due to lack of gas market at the time.\'

    Also at Grizzly Bluff, the Christiansen 3-15 well continues to perform very well with stable daily gas production in excess of 500,000 :D :D cubic feet .ABOUT OTCPICKS.COM