Here's the last From New century.....
During August of 2006, re-entry operations commenced on-Hamill #1-R well, that was originally drilled by Gulf Oil Corporation to a depth of 16,200 feet in 1961 and subsequently plugged and abandoned by Gulf in June 1967. Recent operations included milling out and removing numerous cement and bridge plugs set in the well when it was originally abandoned by Gulf. The well has been cleaned out to a depth of 11,000 feet inside the existing 9-5/8” casing. Cased hole logs were run in the well in October of 2006 and the well is being evaluated for possible gas sands for testing and possible production. The first recompletion attempted in November of 2006, at a depth of 5,560 feet produced gas, but in non-commercial quantities. The Hamill #1-R well is currently temporarily abandoned.
Compression was installed in the Sargent Field during July of 2006. Presently three producing wells are on compression, wells numbers 11, 14 and 17. On or about March 16, 2007, our working interest partner in the South Sargent field, Aquatic Cellulose International Corporation (“Aquatic”) executed a Partial Assignment of Oil and Gas Lease and Bill of Sale whereby Aquatic conveyed to Century Resources Inc., all of Aquatic’s rights, title and interest in Hamill and Hamill leasehold for all depths below a depth of 7,000 feet below the surface. In addition, Aquatics assigned all of its interests, regardless of depth, in Hamill & Hamill well numbers Nos. 19 and 1-R. In return, we repaid Aquatics all deposits made toward the Hamill 1-R workover and released Hamill of all prior commitments made regarding that well.
AI
