Executive Summary
Owl Creek Prospect originally was a 5600' re-entry of the Morris E. Stewart Johnson #1 and the Plymouth Oil Co. Powell #1 wells. These wells were originally drilled for the Basal Oil Creek Sand and were dry. In drilling to the Basal Oil Creek sand, the Trenton Viola was penetrated and found to contain excellent hydrocarbon shows. Nine feet of limestone porosity was encountered in the Johnson #1 well that averaged 8.5% to 9% with excellent microlog separation as an indication of permeability. These re-entries wells tested the productive capabilities of this Trenton Viola section. The Powell #1 re-entry well was completed as a producing oil and gas well in the Trenton. This well was produced for about a year and has been placed on standby for a salt water disposal well.
An offset well to the Powell #1 well was drilled in June of 2006 and encounter a deeper payzone below the Trenton zone of the Viola. The zone encountered was in the upper 1st Bromide sand. This zone was completed as a flowing well and a year latter was placed on a submersible pump and is still producing oil at a rate of 70 barrels a day plus 25 mcf of natural gas. As of July 1, 2008 the Powell #2 has produced 78,000 barrels of oil and 24 million cubic feet of natural gas. At today’s prices this would equal approximately 11 million dollars of oil and gas.
In addition to the Powell #2 well an additional 1st Bromide well was drilled and placed into production. The Isbill #2 well was drilled and completed in mid 2007 and was also place on a submersible pump at the same time that the Powell #2 well was placed on one. The Isbill #2 well is still producing at a rate of 35 barrels of oil per day and as of July 1, 2008 has produced almost 19.000 barrels of oil and 5 million cubic feet of natural gas. In addition to the Powell #2 and Isbill #2 wells at least one proven undeveloped location remains to be drilled.
Owl Creek was Brinx’s first project and has provided the company with significant operating cash flow to help take its other projects forward. We anticipate future operating revenues from this project will be significant and continue help move Brinx forward.
Prospect Potential
| Prospect Reservoir | Depth | Pot. # Wells | Pot. Ultimate Recovery |
|---|---|---|---|
| Viola Trenton | 5600 | 14 (80 acre unit) | 560,000 B.O. |
| Upper Viola | 5300' | 14 (80 acre Unit) | 350,000 B.O. |
| Lower Gibson Sd | 5250' | 5 | 200,000 B.O. |
| Viola Trenton | 5600 | 14 (increased density) | 560,000 B.O. |
| Upper Viola | 5300' | 14 (increased density) | 350,000 B.O. |
| Totals: | 33 to 61 Wells | 2,020,000 B.O. | |