CGrowth Capital Inc (CGRA)

[stockfan100]

Wow...amazing....John Doe with no expertise in the oil field already knows the CGRA oil fields are water wells instead but the team of oil and gas EXPERTS with advanced testing technology had run extensive tests and they still don't know it! Oh, boy! LOL

Well, the good thing is average Joe knows oil wells get filled significantly again after a some years of post-production.

Well Workover Program

Early in the summer a regimen of field testing and well assessment was developed to identify the wells that would most benefit from workover and increase production. Study of the specific well histories and physical inspection we high graded 16 wells that would be the most likely to enhance production after workover. A number of the wells were identified as P&A candidates to be scheduled out over the next few years, and as well we have identified several existing wells that are candidates for re-completion in shallower formations.

During August and September, 12 of those 16 wells have been worked over with cleanouts, replacement of the pumps, and repair or replacement of rods and tubing as necessary, and swabbing to assess and enhance production potential. We hope to complete workover of the remaining four wells before winter sets in. The wells are now in various stages of being placed back into production. Many of these wells had been shut in for months and even years and we should be seeing incrementally increasing production in the coming months as we complete the surface facility repairs in the coming weeks.

Geologic Data Collection and New Drilling Locations

A testing regimen incorporating a digital magneto-telluric technology developed by DMT Technologies of Broken Arrow Oklahoma, www.dmttechnologies.com/, was deployed to obtain new and detailed subsurface data concerning the leaseholds, and adjacent areas with potential for new production and acquisition. While full analysis and integration of the data is not yet complete, from the data so far our contractors have identified many specific, new drilling opportunities with high probability of success for shallow, inexpensive conventional vertical wells within and adjacent to the leaseholds. Upon completion of the analysis we will high grade the locations with the most potential for new production and reserves, and begin applying for drilling permits and planning the drilling of new wells in the summer months.