Bayou Bend Petroleum Ltd. reports an update on the drilling results for the Haystack Prospect in the Marsh Island Operating Area.
The Haystack Prospect which is operated by Bayou Bend was drilled to a total depth of 11,028’ MD/10,740’ TVD utilizing the rig Hercules #49 and has been fully evaluated. Based on log correlations, the expected Tex W3 sand is present in the wellbore but log analysis indicates the sand is wet. The Company is currently performing plug and abandonment operations on the wellbore.
Bayou Bend President and CEO Clint Coldren stated, “While we are disappointed by the result of the Haystack Prospect this is just one of our eleven well program. Currently we have two other wells drilling, the EI 164 and the Mt. Moran North Prospects which should yield results in August. Our Eagle’s Nest well is currently being tied in line for production and should be producing by the end of July. We remain very optimistic with our overall 2008 drilling program.”
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