Powder River Completes First Well in Brookshire Salt Dome, Continues 100% Success Rate in 2006 Click to learn more...
12-12-2006 7:00 AM EST --(MARKET WIRE)--
CALGARY, ALBERTA -- (MARKET WIRE) -- 12/12/06 -- Powder River Basin Gas Corp. (OTCBB: PRVB), a revenue generating producer, acquirer and marketer of crude oil and natural gas properties, today announced it has completed the first well in the Brookshire Salt Dome - the Minns Josh #1. The completion was re-scheduled on several occasions due to excessive rainfall in the area.
The well was put into production on December 8th, and is currently pumping 110 barrels of oil per day. This will be monitored over the next few weeks and may be adjusted depending on fluid levels.
Drilling of the Minns Josh #2 has now been re-scheduled for the second week of January, with the third well to be drilled immediately following completion of Minns Josh #2. This schedule is subject to weather conditions. The Company is currently unable to move drilling equipment due to the excessive moisture. The delay in moving heavy equipment is necessary to minimize surface damage in order to maintain a working relationship with surface owners.
"We are pleased that we were able to complete the first well despite the six week rain delays. It is encouraging that the Minns Josh #1 is producing at such a high rate, and we are thrilled to have the well online. Weather permitting, we anticipate that we will be able to continue with our aggressive drilling program in mid January of 2007," stated Powder River Basin Gas Corp. CEO Brian Fox.
