Stealth Energy receives Stillwater gas reserves report
2008-07-09 17:49 MT - News Release
Mr. John Campbell reports
GAS RESERVE REPORT
Jake Oil & Gas Consultants LLC has prepared a new report for Stealth Energy Inc. on the potential gas reserve of five drilled wells that were in production in the late 1980s and early 1990s, and that are located on Stealth's gas leases in Stillwater county, Montana. These wells are generally proximate to the two successfully drilled wells (Hailstone No. 23-1 and Hailstone No. 23-2) that have yet to be flow tested.
The purpose of the report is to determine if a connecting pipeline to the Saga gas line is justified at this stage of development. The report is with respect to only four sections (2,400 acres) within the 32,286 net acres of prime gas leases the company owns in Stillwater county. The report states, in part, "All together the structure held 6.7 billion cubic feet of recoverable gas and after early production it still holds 6.1 billion cubic feet of recoverable gas."
Accordingly, the company is currently negotiating rights of way to enable the construction of approximately nine miles of connecting pipeline to the main Saga gas line.
