NEWS!!!: Riverdale Oil and Gas Corporation (RVDO) Conducting Detailed 3D Seismic Program
Date : 05/13/2011 @ 9:00AM
Riverdale Oil and Gas Corporation (RVDO) Conducting Detailed 3D Seismic Program
Riverdale Oil & Gas (USOTC:RVDO)
Today : Friday 13 May 2011
Riverdale Oil and Gas Corporation (PINKSHEETS: RVDO) is preparing to utilize a state-of-the-art analysis system to define the 16 potential oil and gas reservoirs under its 631.82 acre Foster Lease in Jim Wells County, Texas. The analysis will incorporate a Neural Network procedure to define the Development Area, which will provide an artificial intelligence from the existing geologic information. Neural Networks have been shown to delineate potential oil and gas deposits beyond the capability of 3D seismic alone, by dealing with complicated data and eliminating false signals; dealing with large amounts of data and extracting the important information; and, dealing with quick adjustments to new situations, much like the human brain, which all leads to an extremely high success factor.
Previous drilling and production has provided excellent information as to the potential oil and gas reservoirs, hydrocarbon reserves, and the large structure that underlies the Foster Lease. The development activity to date has been conducted only under the western portion of the Foster Lease. The 5 wells that were drilled to the deeper Yegua formation sands have under-performed to the fields in close proximity, delivering only 1.7 billion cubic feet of gas compared to 20 to 30 billion cubic feet of gas; and, totally neglecting the shallower oil reservoirs. This has been attributed to the extremely poor completion operations of the previous operators that had little experience in working with highly pressurized formations.
Through a methodical development operation and the use of a proprietary Neural Network program, RVDO expects to see a multi-well program, in multi-pay reservoirs, designed to target specific depth ranges, under its Foster Lease.
Media Contact:
Linda Ellis
VP Investor Relations
Direct # 512-687-1115
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