Gulf Western Petroleum Corporation ("Gulf Western"), is pleased to announce that the O'Neal Smith Unit # 1 has been drilled; casing has been set to a depth of 3810ft; and that it is currently awaiting hook up to the gathering system and testing. The O'Neal Smith Gas Unit is part of the Brushy Creek VI Natural Gas Project in Lavaca County, Texas. The O'Neal Smith #1 well will be produced from numerous Frio reservoir sands, beginning with a series of stacked amplitudes from 2400ft-3700ft. This particular sand sequence has proven to be highly commercial, as evidenced by the Bishop # 2 Jacobs well that is approximately 1500 feet southeast of the O'Neal Smith #1 location. The Bishop # 2 Jacobs well has produced in excess of 1.1 BCFG (billion cubic feet of gas) and is currently flowing at a rate of 275 MCFGPD (thousand cubic feet gas per day) from a similar sequence of seismic events. The logs on the O'Neal Smith # 1 correlate very close to the Bishop # 2 well.
The Brushy Creek VI Project is a three well project generated by utilizing newly acquired 3D seismic data. Each of the three new wells will test amplitude anomalies with strong trough over peak 3D seismic expressions.
Sam Nastat, Gulf Western President and Director stated, "We are very pleased with the results of our Frio drilling program, and to date have successfully drilled four out of four Frio wells as part of our Shamrock and Brushy Creek Projects. The O'Neal Smith is the first completion of the 10 Frio wells that comprise our Brushy Creek Frio drilling program".
This press release may include forward-looking statements based on the Company's current expectations as to future events. The forward-looking events and circumstances discussed in this press release might not occur, and actual results could differ materially from those anticipated or implied in the forward-looking statements. For example, the extraction and sale of natural gas from the wells involves a number of costs and risks, which may limit our ability to generate cash flow from the wells. In addition, the business of Gulf Western Petroleum Corporation is subject to a number of risks typical of an oil and gas exploration and development company including, among other things, the inherent uncertainties associated with oil and gas exploration; laws, environmental, judicial, regulatory, political and competitive developments in areas in which Gulf Western Petroleum Corporation operates; and technological, mechanical and operational difficulties encountered in connection with Gulf Western Petroleum Corporation's activities.
Source: Gulf Western Petroleum Corp.
Your Ads At Here
