Bedford Energy (BFDE)

[schlitz]

Add that to this leave-off 15 months ago: A fifth producer, just recently drilled in on Christmas day has yet to be completed. Drilled 4530 feet north of the Grace #1 well, this Grace #2, field step-out well, has added a key piece to the geological puzzle that we are currently solving. Initial information gathered indicates several potential productive horizons, being far more extensive and perhaps increasingly more prolific than originally was thought to be.
One example found in the Grace #2 well is the possibility of a highly productive Viola Lime producer lying slightly below the Hunton. This typically elusive Viola production is usually only found under the most ideal structural circumstances.
Additionally, the initial reviews of the Hunton have indicated perhaps a larger and increasingly better oil and gas productive zone in two (2) directions.
Continued evaluation and revised geological mapping done from the valuable geological information gained from the drilling of the first six (6) wells will help pinpoint the biggest and best recoverable reserves for the Hunton formation in the growing East Chandler Field.
As far as the secondary/backup Prue and Red Fork zones in this north step out, Grace #2 well, both formations offer the potential for future reserves that will add revenues to the overall bottom line, just like the initial prospect area drilled.
And finally, with infrastructure such as three-phase electric power and the large saltwater disposal well already in place, subsequent development wells, designed and located to help define the dimensions and limits of the East Chandler Field, will benefit immensely by less lag time from the drill bit to the revenue checks.