VPE 0.00% 41.5¢ victoria petroleum nl

Update of Sunrise Mayel 2

  1. 119 Posts.
    Tri Valley are currently drilling ahead with approx 1000 feet to go.

    This drill is located very close to VPE prospects (Kingfisher/Raven)and therefore is of interest.


    From Tri-Valley Website........

    News Release
    Tri-Valley Cuts Gas Section Ahead Of Schedule
    Sunrise-Mayel No. 2H
    OTC BB “TRIL. OB”


    Tri-Valley Oil & Gas Co. is encountering significant natural gas shows as it is drilling ahead of schedule on its Sunrise-Mayel No. 2H well near Delano, California.

    The No. 2H well is a horizontally drilled follow up to the No. 1 well, which confirmed natural gas in the McClure Shale formation between approximately 5,700 feet and 6,000 feet. The McClure Shale formation is too dense to easily give up hydrocarbons through conventional vertically drilled wells.

    Further, the horizontal McClure section (approximately 3,300 feet of the wellbore) must be hydraulically fractured in order to liberate gas in commercial quantities. This operation involves forcing special fluids into the formation under greater pressure than the rock can withstand and then pumping approximately one million pounds of special sand into the newly made fractures to prevent total closure.

    “This is California’s first horizontal/fractured well on a major natural gas play and we are eager to see if we can open a new frontier in natural gas exploration for our gas hungry State,” said Joseph R. Kandle, Tri-Valley Oil & Gas Co. president.

    The No. 1 appraisal well cut some 300 net feet of gas-saturated McClure Shale with the logs showing an average of 3.5 ohms of resistivity in the formation, a favorable indicator of natural gas.

    “We are greatly encouraged to get not only significant gas shows in the horizontal section so far but also to see the resistivity increasing in the range of 8 to 10 ohms to further underscore our belief that the Sunrise Natural Gas Project could hold, potentially, an enormous amount of gas in place,” said F. Lynn Blystone, TVOG chief executive officer.

    The No. 2H is presently beyond 8,200 feet combined vertical, directional and horizontal drilling on its way to a total measured depth of about 9,400 feet. Tri-Valley is actually logging the well while drilling the well to get real-time readings on formation characteristics.

    Tri-Valley has mapped a probable area of formation to the extent of some 6,600 acres within its 8,300-acre lease block. Independent engineering firms have calculated that the No. 1 appraisal well data indicates the formation holds 72 billion cubic feet of natural gas per 160 acres. If the saturated zone thickness remains at 300 feet and the aerial extent is confirmed, the formation could host in the neighborhood of 3 trillion cubic feet of natural gas. The No. 2 horizontal/fractured well will indicate what percentage could be commercially recovered.

    Tri-Valley Oil & Gas Co. is a wholly owned subsidiary of Tri-Valley Corporation, which is publicly traded under the symbol TRIL.OB. Both companies are headquartered in Bakersfield, California, the center of western U.S. oil and gas production.

    More information is available on the Company’s website www.tri-valleycorp.com or by calling toll free at 1-800-579-9314.

    Contact: F. Lynn Blystone,
    Tri-Valley Corporation, Chief Executive Officer

    Joseph R. Kandle, President, Tri-Valley Oil & Gas Company

 
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