Sun Resources NL is pleased to update shareholders on the first of three Woodbine wells to be drilled across its lease areas that are located in Leon and Madison Counties, East Texas, onshore USA.
Amerril Oil Project (Centerville Area) (Sun 18% WI)
The Operator of the Centerville Area of the Amerril Oil Project has advised Sun that completion operations at the F. Thompson #1H well are continuing. The well was actively geo-steered to deliver approximately 5,000 feet (1,524 metres) of cased, horizontal section in the target Upper Woodbine section, with oil shows recorded while drilling. The well was then subjected to a 17-stage hydraulic fracturing program that included an average of over 330,000 pounds of proppant to each stage pumped. Subsequent to the multi-stage fraccing operation, the stage plugs were successfully drilled out and the well has now commenced flow back operations over the 17 frac stages to recover the fraccing fluids.
Sun anticipates a further update when the flow back process has had time to stabilise and recover sufficient fluid to calculate an initial production rate. Sun’s working interest in this well is 18% and the budgeted cost is approximately US$1.2 million net to Sun (US$6.7m total well cost) within a 1,855 gross acres AMI area agreed between the joint venture parties.
