Jun 18, 2008 09:00 ET
PetroWorth: Interim Report on Frac Results at E-08 Well in New Brunswick
The first of the two completed fracs at E-08 flowed back 42 cubic metres out of a total of 103 cubic metres of frac fluid prior to initiating burnable gas flow. The interval flowed gas at a rate building to 260 mcf/day at a wellhead pressure of 87 pounds per square inch over a flow period of 76 hours. A sand plug was then placed over the interval in preparation for the next frac interval.
The frac in the next interval flowed back 68 cubic metres out of a total of 216 cubic metres of frac fluid prior to initiating burnable gas flow. The interval flowed gas at a rate building to 976 mcf/day at a wellhead pressure of 474 pounds per square inch over a flow period of 62 hours.
The fracs of the remaining two intervals at E-08 will be conducted within the next few weeks. Once these fracs are completed, PetroWorth plans to provide final flow results on the basis of each individual interval and as a commingled total of the four intervals.
PetroWorth is currently investigating various alternatives to both short and long term marketing of the potential natural gas production from the E-08 well.
PetroWorth Resources Inc. is a junior oil and gas exploration company with extensive onshore properties in Eastern Canada. The Company has acquired 100% working interests in almost one million acres in nine separate exploration permits on Prince Edward Island, Nova Scotia and New Brunswick. The strategy of the company is to conduct aggressive exploration programs on these permits, both internally generated and through advantageous farm-in arrangements.
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