Date: July 29, 2008
Information: Chester F. English
Tel: (601) 713-4011
Fax: (601) 713-4013
Columbia Petroleum LLC Provides Update on its Baxterville Field
COLUMBIA, MS – Columbia Petroleum LLC announces the completion of the Tim Hurst #1 well in the Baxterville Field (Lamar County, Mississippi). The well was drilled to a total depth of 3763 feet and completed in the Wilcox Sandstones. Current production is 400 MCF of gas per day at a flowing pressure of 1300 psi from the first of five pay sections identified by log analysis. Total reserves are estimated at 2 BCF.
This well is particularly important as it is the first commercially successful well to be completed in the Wilcox within the field, opening the opportunity for further Wilcox exploration in a field historically dominated by deeper production.
Additional prospects similar to the Tim Hurst #1 are in various stages of the development process. “We are particularly pleased with the log analysis identifying multiple pay sections of the Wilcox formation thereby supporting our belief that meaningful hydrocarbon reserves - that have historically been overlooked by others, remain to be recovered within known fields,” said Bill Simmons, Managing Member for Columbia Petroleum.
Columbia Petroleum LLC is an independent company engaged in the development and production of, and exploration for, crude oil and natural gas. The Company’s oil and gas assets and activity are concentrated primarily in Oklahoma, Mississippi, Alabama and Louisiana.
This press release includes statements, which may constitute "forward-looking" statements, usually containing the words "believe", "estimate", "project", "expect", or similar expressions. These statements are made pursuant to the safe harbor provision of the Private Securities Litigation Reform Act of 1995. Forward-looking statements inherently involve risks and uncertainties that could cause actual results to differ materially from the forward-looking statements. Factors that would cause or contribute to such differences include, but are not limited to, future trends in mineral prices, the availability of capital for development of mineral projects and other projects, acceptance of the Companies' products and services in the marketplace, competitive factors, dependence upon third-party vendors, and other risks detailed in the Companies' periodic report filings with the "Securities and Exchange Commission". By making these forward-looking statements, the companies undertake no obligation to update these statements for revision or changes after the date of this release. There can be no assurance that the transactions discussed in this press release will be consummated.
Tue, July 29, 2008
by Dave Scull