(OTCBB:EECI) Empire Energy Corporation Announces Well Test Progress
OVERLAND PARK, Kan.--(BUSINESS WIRE)--July 27, 2001--Empire Energy Corporation announces today the status of its completion activities in the Bedsole No. 1 well located in Leon County, Texas. A net 42' of the upper Cotton Valley sand interval from 12,810 - 12,920' was stimulated on July 16 with a slickwater frac consisting of 9,600 barrels of fluid and 106,000 lbs of sand proppant. The frac went according to design with all stages delivered at pressures ranging from 5,400 to 5,800 psi at a rate of 60 bbls/minute. After the frac was completed, the frac fluid and gas began flowing back on a 5/64" choke with an initial flowing tubing pressure of 3,200 psi. With an estimated 60% of the frac fluid now recovered, the well is on a 14/64" choke with a flowing tubing pressure of 1,300 psi. A water free completion would yield 1.8MMcfd at 1,300 psi. With 40% of the frac fluid remaining to be recovered, the pressures are likely to fluctuate with an increase suggesting higher yields.
This flow back process is a managed process that can take as long as 30 - 60 days. It requires a balance of fluid removal associated with gas recovery in an attempt to avoid damage to the propped reservoir, ie: collapse due to rapid extraction. As such, the flow back will continue until the well stabilizes and flow testing can be conducted to calculate ultimate production rates. The results of the completion activities are encouraging but production rates cannot be determined until the flow back and subsequent testing are completed.
Empire has contracted with Anadarko to sell the gas and a tap has been set in the pipeline which is located approximately 3000' from the well. Tanks, separators, etc. will arrive on location the week of July 30 and a pipeline from the location to the tap is scheduled to be completed within 10 days.
Empire operates and owns a 95% Working Interest within the Bedsole Gas Unit, located in Leon County, Texas and is currently evaluating development options for the drilling of an additional 6 - 8 wells on the remainder of the acreage.
For more information, visit Empire's website at www.empireenergy.com or you can call Bryan S. Ferguson, President at 913/469-5615 or for Investor Relations, Doug Wolters at 800/950-2587.
Certain statements above constitute forward-looking statements with respect to Empire Energy Corporation. Such forward-looking statements involve known and unknown risks, uncertainties, and other factors that may cause the actual results, performance, or achievements of Empire Energy Corporation to be materially different from any future results, performance, or achievements expressed or implied by such forward-looking statements.
CONTACT: Empire Energy Corporation
Bryan S. Ferguson, 913/469-5615
Doug Wolters, 800/950-2587 (Investor Relations)
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