Brinx Resources to Drill First Development Well Offset New Oklahoma Oil and Gas Discovery
The development well is located directly offset the new oil and gas discovery well at 09-3 #1 and will test the same productive pay zones encountered previously in the 08-3 and 09-3 drill programs. Weather permitting, drilling of this well should start within the next 30 days.
The 09-3 #1 discovery well was placed into production on January 22, 2010. The initial flow rates for the well were of 450 to 550 barrels of fluid per day with an oil cut ranging from 50 to 70% with natural gas production of over 400 mcf per day.
"It's very exciting to move quickly with development plans to offset our most recent oil and gas discovery in Oklahoma," said Leroy Halterman, President of Brinx Resources. "We are optimistic that this could be the first of several development wells that will be required to fully exploit this productive new pool."
Further information regarding progress at the 09-3 Oklahoma Project will be released, as it becomes available.
About Brinx Resources
Brinx Resources is an expanding exploration and production company focused on developing North American and international oil and natural gas reserves. The Company's current focus is on the continued exploration and development of its land portfolio comprised of working interests in the 08-3, 09-2, 09-3, and 09-4 Oklahoma Projects (5% interest); Three Sands Project in Noble County, Oklahoma (40% interest); King City Project in California (20% interest); and the Palmetto Point and Belmont Lake Oil Field Projects in Mississippi (8 to 8.5% interest). Brinx Resources is seeking to further develop its existing projects through development or offset drilling and to expand its portfolio to include additional interests North America.
Statements which are not historical facts are forward-looking statements. The Company makes forward-looking public statements concerning its expected future operations, performance and other developments. Such forward-looking statements are necessarily estimates reflecting the Company's best judgment based upon current information and involve a number of risks and uncertainties, and there can be no assurance that other factors will not affect the accuracy of such forward-looking statements. It is impossible to identify all such factors but they include and are not limited to the existence of underground deposits of commercial quantities of oil and gas; cessation or delays in exploration because of mechanical, operating, financial or other problems; capital expenditures that are higher than anticipated; or exploration opportunities being fewer than currently anticipated. The Company has no official gas or oil reserves at this time and may not have sufficient funding to thoroughly explore, drill or develop its properties. Factors which could cause actual results to differ materially from those estimated by the Company include, but are not limited to, government regulation, managing and maintaining growth, the effect of adverse publicity, litigation, competition and other factors which may be identified from time to time in the Company's public announcements and filings.
Investor Contact
Gerry Belanger
LiveCall Investor Contact for Brinx Resources
E-mail: info@brinxresources.com
Brinx Corporate: www.brinxresources.com
Investor Community: www.livecallir.com
Toll-Free: (877) 226-8002
Brinx Resources and Partners Spud First Well at OK-4 Oklahoma Project
The OK-4 #1 well is expected to take approximately two weeks to reach a total depth. The well site was selected based on positive indications from 3-D seismic surveys and is targeting hydrocarbon bearing sands similar to that found at the Company's successful 08-3 wells and the 09-3 wells.
"The Company is very pleased to see this project get started on schedule despite the bitter cold, freezing rain, and heavy snowfalls that have swept through southern Oklahoma," said Leroy Halterman, President of Brinx Resources. "Our familiarity and knowledge of the area's geology gives us solid indication that both wells in the program will potentially encounter multiple oil and gas zones."
Further information regarding progress at the 09-4 Oklahoma Project will be released, as it becomes available.
About Brinx Resources
Brinx Resources is an expanding exploration and production company focused on developing North American and international oil and natural gas reserves. The Company's current focus is on the continued exploration and development of its land portfolio comprised of working interests in the 08-3, 09-2, 09-3, and 09-4 Oklahoma Projects (5% interest); Three Sands Project in Noble County, Oklahoma (40% interest); King City Project in California (20% interest); and the Palmetto Point and Belmont Lake Oil Field Projects in Mississippi (8 to 8.5% interest). Brinx Resources is seeking to further develop its existing projects through development or offset drilling and to expand its portfolio to include additional interests North America.
Statements which are not historical facts are forward-looking statements. The Company makes forward-looking public statements concerning its expected future operations, performance and other developments. Such forward-looking statements are necessarily estimates reflecting the Company's best judgment based upon current information and involve a number of risks and uncertainties, and there can be no assurance that other factors will not affect the accuracy of such forward-looking statements. It is impossible to identify all such factors but they include and are not limited to the existence of underground deposits of commercial quantities of oil and gas; cessation or delays in exploration because of mechanical, operating, financial or other problems; capital expenditures that are higher than anticipated; or exploration opportunities being fewer than currently anticipated. The Company has no official gas or oil reserves at this time and may not have sufficient funding to thoroughly explore, drill or develop its properties. Factors which could cause actual results to differ materially from those estimated by the Company include, but are not limited to, government regulation, managing and maintaining growth, the effect of adverse publicity, litigation, competition and other factors which may be identified from time to time in the Company's public announcements and filings.
Investor Contact
Gerry Belanger
LiveCall Investor Contact for Brinx Resources
E-mail: info@brinxresources.com
Brinx Corporate: www.brinxresources.com
Investor Community: www.livecallir.com
Toll-Free: (877) 226-8002
Brinx Resources to Participate in New 'Two Well' Drill Program
The new 'two well' program will be identified as the 09-4 Oklahoma Project. The wells will be indentified as the 09-4 #1 and 09-4 #2. These two well locations were selected based on positive anomalies discovered by 3-D seismic surveys and will target the same pay zones encountered in the company's successful 08-3 wells and the 09-3 wells.
"The company is excited to continue its expansion of its successful Oklahoma Project," says Leroy Halterman, President of Brinx Resources. "We've achieved a high success rate thus far with the neighboring drill programs, and therefore look forward to positive results from the new 09-4."
The Company should have preliminary indications as to the success of these wells once the drill reaches total depth and they are electrically logged.
About Brinx Resources
Brinx Resources is an expanding exploration and production company focused on developing North American and international oil and natural gas reserves. The Company's current focus is on the continued exploration and development of its land portfolio comprised of working interests in the 08-3, 09-2, and 09-3 Oklahoma Projects (5% interest); Three Sands Project in Noble County, Oklahoma (40% interest); King City Project in California (20% interest); and the Palmetto Point and Belmont Lake Oil Field Projects in Mississippi (8 to 8.5% interest). Brinx Resources is seeking to further develop its existing projects through development or offset drilling and to expand its portfolio to include additional interests North America.
Statements which are not historical facts are forward-looking statements. The Company makes forward-looking public statements concerning its expected future operations, performance and other developments. Such forward-looking statements are necessarily estimates reflecting the Company's best judgment based upon current information and involve a number of risks and uncertainties, and there can be no assurance that other factors will not affect the accuracy of such forward-looking statements. It is impossible to identify all such factors but they include and are not limited to the existence of underground deposits of commercial quantities of oil and gas; cessation or delays in exploration because of mechanical, operating, financial or other problems; capital expenditures that are higher than anticipated; or exploration opportunities being fewer than currently anticipated. The Company has no official gas or oil reserves at this time and may not have sufficient funding to thoroughly explore, drill or develop its properties. Factors which could cause actual results to differ materially from those estimated by the Company include, but are not limited to, government regulation, managing and maintaining growth, the effect of adverse publicity, litigation, competition and other factors which may be identified from time to time in the Company's public announcements and filings.
Gerry Belanger
LiveCall Investor Contact for Brinx Resources
E-mail: info@brinxresources.com
Brinx Corporate: www.brinxresources.com
Investor Community: www.livecallir.com
Toll-Free: (877) 226-8002
Brinx Resources and Partners Complete Significant Oil and Gas Discovery Well at Oklahoma Project
The 09-3 #1 well was perforated in one of the lower zones on January 22. Since perforation, the well has flowed at rates of 450 to 550 barrels of fluid per day with an oil cut ranging from 50 to 70%. It is believed that the water is primarily the result of the drilling and completion process, and that most if not all of it will disappear shortly.
The natural gas production rates are estimated to be between 200 and 300 mcf per day. At present, a gathering line is being laid and the well should be producing, and subsequently selling, both gas and oil within the next two days.
"The Oklahoma Project continues to impress," says Leroy Halterman, President of Brinx Resources. "The additional revenues to be garnered by a new discovery well such as this will undoubtedly aid in expansion of company developments, and in turn, continue to create value for our shareholders."
As previous announced, initial electric logs indicated that the 2009-3#1 well may have intersected as many as nine separate potential pay zones. Further log analysis has defined three additional pay zones with similar characteristics that lie above the current tested and producing pay zone and are located within 60 feet of this zone. Two more pay zones were also identified in different formations at shallower depths. Each of these potential pay zones will be evaluated and considered for production as soon as possible.
About Brinx Resources
Brinx Resources is an expanding exploration and production company focused on developing North American and international oil and natural gas reserves. The Company's current focus is on the continued exploration and development of its land portfolio comprised of working interests in the 08-3, 09-2, and 09-3 Oklahoma Projects (5% interest); Three Sands Project in Noble County, Oklahoma (40% interest); King City Project in California (20% interest); and the Palmetto Point and Belmont Lake Oil Field Projects in Mississippi (8 to 8.5% interest). Brinx Resources is seeking to further develop its existing projects through development or offset drilling and to expand its portfolio to include additional interests North America.
Statements which are not historical facts are forward-looking statements. The Company makes forward-looking public statements concerning its expected future operations, performance and other developments. Such forward-looking statements are necessarily estimates reflecting the Company's best judgment based upon current information and involve a number of risks and uncertainties, and there can be no assurance that other factors will not affect the accuracy of such forward-looking statements. It is impossible to identify all such factors but they include and are not limited to the existence of underground deposits of commercial quantities of oil and gas; cessation or delays in exploration because of mechanical, operating, financial or other problems; capital expenditures that are higher than anticipated; or exploration opportunities being fewer than currently anticipated. The Company has no official gas or oil reserves at this time and may not have sufficient funding to thoroughly explore, drill or develop its properties. Factors which could cause actual results to differ materially from those estimated by the Company include, but are not limited to, government regulation, managing and maintaining growth, the effect of adverse publicity, litigation, competition and other factors which may be identified from time to time in the Company's public announcements and filings.
Gerry Belanger
LiveCall Investor Contact for Brinx Resources
E-mail: info@brinxresources.com
Brinx Corporate: www.brinxresources.com
Investor Community: www.livecallir.com
Toll-Free: (877) 226-8002
Brinx Resources and Partners Hit Fourth Well and Achieve 100% Drilling Success Rate at 09-3 Oklahoma Project
The 09-3 #4 well was drilled to a total depth of 5685 feet and intercepted two hydrocarbon pay zones that total approximately 34 feet. These pay zones of oil and gas are located within Pennsylvania Sands. In addition to the thicker zones, several thinner pay zones were also intercepted by the 09-3 #4 well.
"This is an outstanding way to close out the drilling of the 09-3 Oklahoma Project," said Leroy Halterman, President of Brinx Resources. "It's obviously great news for Brinx and its partners to have been successful at all four wells of the program. In addition, the last well, after production testing, may lead to additional offset locations."
Each of the four 2009-3 Oklahoma Project wells are at various stages of completion in order to prepare for production. This process is ongoing and expected to take several weeks.
About Brinx Resources
Brinx Resources is an expanding exploration and production company focused on developing North American and international oil and natural gas reserves. The Company's current focus is on the continued exploration and development of its land portfolio comprised of working interests in the 08-3, 09-2, and 09-3 Oklahoma Projects (5% interest); Three Sands Project in Noble County, Oklahoma (40% interest); King City Project in California (20% interest); and the Palmetto Point and Belmont Lake Oil Field Projects in Mississippi (8 to 8.5% interest). Brinx Resources is seeking to further develop its existing projects through development or offset drilling and to expand its portfolio to include additional interests North America.
Statements which are not historical facts are forward-looking statements. The Company makes forward-looking public statements concerning its expected future operations, performance and other developments. Such forward-looking statements are necessarily estimates reflecting the Company's best judgment based upon current information and involve a number of risks and uncertainties, and there can be no assurance that other factors will not affect the accuracy of such forward-looking statements. It is impossible to identify all such factors but they include and are not limited to the existence of underground deposits of commercial quantities of oil and gas; cessation or delays in exploration because of mechanical, operating, financial or other problems; capital expenditures that are higher than anticipated; or exploration opportunities being fewer than currently anticipated. The Company has no official gas or oil reserves at this time and may not have sufficient funding to thoroughly explore, drill or develop its properties. Factors which could cause actual results to differ materially from those estimated by the Company include, but are not limited to, government regulation, managing and maintaining growth, the effect of adverse publicity, litigation, competition and other factors which may be identified from time to time in the Company's public announcements and filings.
Gerry Belanger
LiveCall Investor Contact for Brinx Resources
E-mail: info@brinxresources.com
Brinx Corporate: www.brinxresources.com
Investor Community: www.livecallir.com
Toll-Free: (877) 226-8002