Otis Energy

Latest Otis Energy News

• Second well at the Comanche Project underway.
• Well to test the Marble Falls Limestone at 5,000 feet.
• Expected drilling time approximately 40 days.
• Recent results in the Marble Falls Limestone indicate 250,000 BOE per well is obtainable with potential of more than 40 wells required to fully develop the Comanche Project.

• Oil and Gas discovery at the second well of the seven hole drilling program.
• Well to commence production and flow testing in coming weeks.
• Third well likely to be spud later this week.
• Gas discovered to be used to help power production facilities at Catahoula Lake.

• The SL 20846 # 1, was drilled to 1,050 feet (320 metres) and surface casing had been set in place when the barge rig drawworks suffered a breakdown.

• Recent drilling activity continues to indicate the MFL is conducive to horizontal drilling and modern completion technology, and targeting porosity lenses enhanced by micro-fracturing should yield the best results.

• The Test Well is currently at a depth of 1,574 feet (479 metres) of the vertical section of the well and is expected to take 22 to 25 days to complete before the lateral section of the well commences.

• This well is expected to take between 35 to 40 days from spud to reach target depth.

• The Comanche Project will target the Marble Falls Limestone formation at approximately 5,000 feet.

• Mudlogging operations began at 3,500 feet (1,066 metres) and will continue to target depth of 11,600 feet.

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