This strange nine year old item was posted today on "Google Alerts".
Tri-Valley to Commence Operations to Frac Its Sunrise Gas Well -- re ...
If a way to commercially extract this resource can be achieved, it would be one of the great bonanzas of the American oil and gas business. Hence, Tri-Valley's ...
www.prnewswire.com/.../tri-valley-to-commence-operations-t...
Howard
BAKERSFIELD, Calif., Jan. 20 /PRNewswire-FirstCall/ -- Tri-Valley
Corporation (Amex: TIV) is commencing operations to re-enter its Sunrise-Mayel
No. 2HR to prepare to hydraulically fracture the McClure Shale formation with
diesel oil. The target zone is non-water-bearing and not connected with any
aquifer. Rather, it is filled with natural gas and natural gas liquids but
has few pathways to allow the hydrocarbons to be extracted at a commercial
rate.
The SM2HR was horizontally drilled into the McClure Shale to greatly
increase the formation exposure to the wellbore and then hydraulically
fractured with a brine solution that failed to cause the fractures to remain
open for transmittal of gas at commercial rates. With the use of diesel oil,
the Company believes there will be no interaction with any clay content in the
formation that might otherwise cause the fracture pattern to swell shut.
Company officials have been very enthused about the potential of its
Sunrise Natural Gas Project near Delano, California, after independent
engineering analyses projected gas in place of 80 billion cubic feet per
160-acre unit. Tri-Valley geologists have mapped a closure of some
6,600 acres suggesting the potential of 3.3 trillion cubic feet in place. If
a way to commercially extract this resource can be achieved, it would be one
of the great bonanzas of the American oil and gas business. Hence,
Tri-Valley's unrelenting pursuit of commercial completion.
"Since the easy producing areas have largely been found in America, an
increasing number of tight formation discoveries are being massaged to
producing status and some offer uncommon opportunities if discoveries can be
engineered to commercial status and we are confident the Sunrise Natural Gas
Project has that potential," said F. Lynn Blystone, president and chief
executive officer.
The Company expects the frac to be performed around the first week of
February.
Tri-Valley Corporation and its subsidiaries, Tri-Valley Oil & Gas Co. and
Tri-Valley Power Corporation are headquartered in Bakersfield, California.
The Company is entering its 41st year of business as a successful operating
company and for 31 years has been a full reporting 12 (g) publicly traded
Delaware Corporation. Tri-Valley Corporation stock is publicly traded on the
American Stock Exchange under the symbol "TIV" in the United States and is
also traded in Europe on the Berlin and Frankfurt Stock Exchanges under the
symbol "TVC WKN 911919." Our company websites, which include all SEC filings,
are www.tri-valleycorp.com and www.tri-valley.de .
This press release contains forward-looking statements that involve risks
and uncertainties. Actual results, events and performance could vary
materially from those contemplated by these forward-looking statements which
includes such words and phrases as exploratory, wildcat, prospect, speculates,
unproved, prospective, very large, expect, potential, etc. Among the factors
that could cause actual results, events and performance to differ materially
are risks and uncertainties discussed in the company's quarterly report on
Form 10-Q for the quarter ended September 30, 2003, and the annual report on
Form 10-K for the year ended December 31, 2002.
For more information, please contact F. Lynn Blystone, President & Chief
Executive Officer of Tri-Valley Corporation, +1-661-864-0500, or toll free,
+1-800-579-9314, or fax, +1-661-864-0600.
SOURCE Tri-Valley Corporation
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