Bayou Bend Petroleum Ltd. has commenced drilling the Broussard Estes #1 well. The well is testing the LaPosada prospect located in the Bayou Hebert Field and is being drilled and operated by PetroQuest Energy, L.L.C..
The prospect is a Lower Miocene deeper pool test on a high relief fault closure that has produced over 100 BCF from shallower Middle and Lower Miocene sands. The Bayou Hebert field is located 26 miles northwest of the Company’s Marsh Island project in Iberia Parish, Louisiana. Noble Rig 301 was mobilized to the site and spudded on August 10, 2007.
The Company has a Participation Agreement for oil and gas exploration rights on 2,899.9 acres which includes the large LaPosada prospect. Bayou Bend will earn a 21.875 percent working interest in the initial well on and future wells located on the associated acreage.
Clinton W. Coldren, President and Chief Executive Officer of Bayou Bend, commented, “It’s been a busy and exciting summer for the Company. Our first well was a discovery and is in production and we now have 4 other wells currently being drilled with several more yet planned this summer.”