Listed: TSX Venture Exchange (Symbol: EOR)
HOUSTON, Oct. 9 /CNW/ - Enhanced Oil Resources Inc. (the "Company") is
pleased to announce that it has initiated testing of an additional prospective
interval within the St Johns Helium and CO2 field located in Apache County,
Arizona and Catron County, New Mexico.
As previously reported the Company recently encountered excellent CO2 gas
shows while drilling the Cottonwood Canyon No. 7X (CC-7X) well, located within
the Cottonwood Canyon Unit area in Catron County, New Mexico. Well logs
recently completed throughout the well indicates that the gas shows
encountered while drilling are believed to be from an Abo Reef interval found
to be present elsewhere in many areas of the Permian Basin. At the CC-7X well
the Abo Reef zone is located over the interval 2,008 ft to 2,060 ft with
porosities up to 18%. The Abo Reef was perforated and acidized over the
weekend and is currently flowing CO2 gas and drilling fluid to surface. The
interval will be tested over the next several days in an attempt to clean up
the well and allow for a stabilized rate.
EOR Inc.'s President and CEO Mr. Barry Lasker reports, "While it is still
very early in the evaluation of this additional gas bearing zone, the Company
is excited about the potential that this zone could bring to the overall
development of the St Johns gas resource. A quick review of surrounding wells
indicates that this new zone could cover an extensive area and that
considerable potential pay may be located up dip from the CC-7x well.
Additional data needs to be collected to understand more about this new zone."
Enhanced Oil Resources Inc. is a development stage, enhanced oil recovery
(EOR), company that controls approximately 235,000 acres of land within the
St Johns Helium/CO2 field in Arizona and New Mexico where the Company is
developing what is thought to be the largest undeveloped resource of helium
and carbon dioxide gases in North America. Independent engineering firms have
estimated that the St Johns field contains approximately 15 trillion cubic
feet of in place resources, with a potential recoverable resource of
5 trillion cubic feet. Development of the project could result in the Company
becoming one of North America's largest CO2 suppliers and EOR producers. The
Company's strategic focus for CO2 delivery and EOR production is the Permian
Basin where significant potential exists for enhanced oil recovery from
mature, depleted oil fields.
ON BEHALF OF THE BOARD OF DIRECTORS
Barry D Lasker, CEO
THE TSX VENTURE EXCHANGE HAS NOT REVIEWED AND DOES NOT ACCEPT
RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
For further information:
For further information: visit our Website at www.enhancedoilres.com, or
please call Don Currie on 1-888-990-3551