News....
Titan Oil and Gas, Inc.-Operations Update on Eberle # 1 Gas Well
Nov 20, 2006 9:10:00 AM
SAN ANTONIO, TEXAS--(CCNMatthews - Nov. 20, 2006) - Titan Oil and Gas, Inc. (TNOG:PK) is pleased to report that the rig at the Bastrop County site has been making excellent progress in preparing the Eberle # 1 well for hydraulic fracturing. Lab test results on gas samples from this well were posted in our previous news release on November 3,2006.
In the hydraulic fracturing process, sand will be forcibly injected into the formation at extremely high pressures, out to a radius which may extend up to 200 feet outward from the well. This process is designed to open up the fractures of the formation more fully for the highest potential volume of gas flow.
As part of this process, a cement bond test has been performed. This measures the adherence of the cement well casing to the formation surrounding it. With the extreme pressures at work in the hydraulic fracturing process, pressure could easily bleed off up and down the outside of the casing if it were not bonded tightly to the formation. It is important to focus the pressure directly on the zone which has tested for gas. In the Eberle # 1 well, this is at appx. 5,000 feet in depth, in what has been determined to be a Taylor Sand Formation.
We are pleased to report that the test verified a solid cement bond, with no need to utilize further specialized cement applications to isolate the target zone. The well is now prepared and ready for hydraulic fracturing, and the equipment has been ordered to the site to complete this process.
Along with our partners in this project, Houston-based Oasis Oil and Gas Corporation and San Antonio based Tejones Operating Corporation, we are eagerly looking forward to the results of this procedure, and will issue an update to our shareholders with news as it is available.
About Titan Oil and Gas. Inc. - Titan is an energy company with interests in oil and gas development, drilling and production. Titan follows a conservative business model, focusing on redevelopment of oil and gas fields with a history of production, and also, exploration and development of new properties.
Certain information included in this communication (as well as information included in oral statements or other written statements made or to be made by Titan Oil and Gas, Inc.) contains statements that are forward looking, such as statements relating to the future anticipated direction of the Oil and Gas Industry, plans for expansion, various business development activities, planned capital expenditures, future funding resources, anticipated sales growth and potential contracts. These forward looking statements are subject to a number of known and unknown risks and uncertainties that could cause actual operations or results to differ materially from those anticipated.
FOR FURTHER INFORMATION PLEASE CONTACT:
Titan Oil and Gas, Inc.
Investor Hotline
(503) 618-0370 or Toll Free: 1-888-601-9983
Email: info@titanoilandgas.com
Website: www.titanoilandgas.com
Source: Titan Oil and Gas, Inc.
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