news... Diaz averaged 1121boepd for q1. q2 probably won't average 1450 but if it did, that would be a 29% increase from q1. We'll have to wait and see how long each of the new wells flowed to get the new average for q2. Should be a nice pop for topline revs and put Diaz on a good path to hit their target exit rate of 2000boepd for 2005. Bobwins
Diaz Resources raises output to 1,450 BOE a day, holds 22.5% of new Texas gas discovery
6/21/05 10:00:00 AM
CALGARY (CP) - Junior energy company Diaz Resources Ltd. has raised its daily output to 1,450 barrels of oil equivalent production as the company benefits from recent natural gas expansions in Texas.
Diaz said Tuesday its 22.5-per-cent owned Dickson 1 well in Lavaca County Texas was flowing to market at 4.2 million cubic feet a day. In addition, Diaz's Hancock 1 well in Colorado County, Texas is steadily producing at 3.4 million cubic feet.
Diaz holds a 20 per cent working interest in this well.
With the addition of the two wells, Diaz said its daily production has hit 7.2 million cubic feet of gas and 250 barrels of oil, a combined 1,450 barrels of oil equivalent output.
Diaz (TSX:DZR) is an oil and gas company focused on shallow gas in southern Alberta, natural gas exploration in central and southern Alberta and deep gas exploration in Texas.
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