And let's not forget that it is high quality SWEET gas.
SAN ANTONIO, TEXAS--(CCNMatthews - Nov. 20, 2006) - Titan Oil and Gas, Inc. (TNOG:PK) is pleased to report that the rig at the Bastrop County site has been making excellent progress in preparing the Eberle # 1 well for hydraulic fracturing. Lab test results on gas samples from this well were posted in our previous news release on November 3,2006.
In the hydraulic fracturing process, sand will be forcibly injected into the formation at extremely high pressures, out to a radius which may extend up to 200 feet outward from the well. This process is designed to open up the fractures of the formation more fully for the highest potential volume of gas flow.
As part of this process, a cement bond test has been performed. This measures the adherence of the cement well casing to the formation surrounding it. With the extreme pressures at work in the hydraulic fracturing process, pressure could easily bleed off up and down the outside of the casing if it were not bonded tightly to the formation. It is important to focus the pressure directly on the zone which has tested for gas. In the Eberle # 1 well, this is at appx. 5,000 feet in depth, in what has been determined to be a Taylor Sand Formation.
We are pleased to report that the test verified a solid cement bond, with no need to utilize further specialized cement applications to isolate the target zone. The well is now prepared and ready for hydraulic fracturing, and the equipment has been ordered to the site to complete this process.
Along with our partners in this project, Houston- based Oasis Oil and Gas Corporation and San Antonio based Tejones Operating Corporation, we are eagerly looking forward to the results of this procedure, and will issue an update to our shareholders with news as it is available.
Share Structure:
Authorized: 750 Million
Outstanding: 749,753,651 as of 2005-10-05
Float: Approx. 375 Million
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