Enhanced Oil Resources Inc. (EOR.V) has provided the following
update regarding the Company's operations for August.
At the Milnesand oil field, drilling of the MSU #141 infill
lateral has been completed and the rig has moved to the MSU #123
well to drill a 1,400 foot infill lateral there. The MSU #123 is
currently drilling out the curve prior to initiating the lateral
segment of the well. The MSU #141 well was drilled to a total drill
depth of 7,040 feet (4,612 ft. true vertical depth) after
initiating the lateral component of the well at a drill depth of
4,750 feet (4,631 ft. true vertical depth). The well was drilled
through the Upper P3 and P2 reservoirs and encountered oil shows,
with fluorescence and cut, over an interval exceeding 1,800 feet.
The well has been cased over the interval from 4,300 to 6,900 feet
and will be acidized over seven stages. The Company estimates that
acidizing and testing will occur within the next few weeks.
On Saturday August 4th the MSU #522 well, the first well drilled
in the program was successfully acidized in seven stages over a
distance of 2,700 ft. The well is currently flowing back injected
water and spent acid, as expected.
Oil production volumes for July averaged 390 barrels of oil per
day (bopd), an increase of 30 bopd from June. The increase in
production volumes for July is largely due to a full month of
production at both the Crossroads #105 well and the Crossroads #106
well with each well averaging approximately 60 bopd for the month
of July. Fishing operations continue at the Crossroads #303 well to
retrieve a submersible pump that parted in the well in November.
The Company has regained partial circulation and we are confident
that we are making progress towards retrieving the remaining nine
feet of pump.