HOUSTON, June 10 /CNW/ - Enhanced Oil Resources, Inc. (TSX-V: EOR) today
announced that it re-entered the 11-29-30 well increasing carbon dioxide (CO2)
production to 5.4 million cubic feet per day (MMcf/d) gross from the Amos Wash
interval, an increase of 257% from the initial production rate of 2.1 MMcf/d
As a result of the increased productivity achieved in several of the
recently drilled Granite Wash wells the Company recently decided to re-enter
the 11-29-30 Amos Wash well that had been produced at approximately 2.1 MMcf/d
at a flowing pressure of 300 pounds per square inch (PSI) for approximately 7
days during April, 2007. The well was recently re-entered to remove the
production tubing from the hole and to log and cleanout the open hole section.
The 2 & 9/16" master valve at the wellhead was then replaced with a 7" master
valve to reduce potential restrictions during flow back. Following cleanout
and flow back the well began to flow up the casing at rates in excess of 5
MMcf/d. The well has since stabilized at 5.4MMcf/d at a flowing pressure of
The Company is reviewing test data from additional earlier Amos Wash
wells in the Field to determine if higher rates could be achieved by
redesigning the down-hole configuration of those wells.
Barry Lasker, EOR President and CEO said: "The Company is very pleased
with the latest test results from the 11-29-30 Amos Wash well. The increase in
production has confirmed that, as with the Granite Wash interval, the Amos
Wash interval can deliver at substantially higher rates than previously
thought and also confirms that we are on the right track to improving the
overall well performance within the Field. This is the highest natural flow
rate achieved from the Amos Wash interval to date and, with continued success,
could substantially reduce future field wide development costs. We are
continuing to review past well performance to see if additional productivity
could be achieved from our earlier Amos Wash wells."
About Enhanced Oil Resources
Enhanced Oil Resources, Inc. (EOR) is an early-stage company focused on
developing the St. Johns Helium/CO2 field, and producing oil via enhanced oil
recovery processes using CO2 injection in the United States. The Company owns
and operates the St. Johns Field, the largest undeveloped helium and CO2 field
in North America.
Certain statements contained herein are forward-looking statements,
including statements relating to Enhanced Oil Resources' operations; business
prospects, expansion plans and strategies. Forward-looking information
typically contains statements with words such as "intends," "anticipate,"
"estimate," "expect," "potential," "could," "plan" or similar words suggesting
future outcomes. Readers are cautioned not to place undue reliance on
forward-looking information because it is possible that expectations,
predictions, forecasts, projections and other forms of forward-looking
information will not be achieved by Enhanced Oil Resources. By its nature,
forward-looking information involves numerous assumptions, inherent risks and
uncertainties. A change in any one of these factors could cause actual events
or results to differ materially from those projected in the forward-looking
information. Although Enhanced Oil Resources believes that the expectations
reflected in such forward-looking statements are reasonable, Enhanced Oil
Resources can give no assurance that such expectations will prove to be
correct. Forward-looking statements are based on current expectations,
estimates and projections that involve a number of risks and uncertainties
which could cause actual results to differ materially from those anticipated
by Enhanced Oil Resources and described in the forward-looking statements or
information. The forward-looking statements are based on a number of
assumptions which may prove to be incorrect. Readers should be aware that the
list of factors, risks and uncertainties set forth above are not exhaustive.
Readers should refer to Enhanced Oil Resources' current filings, which are
available at www.sedar.com, for a detailed discussion of these factors, risks
and uncertainties. The forward-looking statements or information contained in
this news release are made as of the date hereof and Enhanced Oil Resources
undertakes no obligation to update publicly or revise any forward-looking
statements or information, whether as a result of new information, future
events or otherwise, unless so required by applicable laws or regulatory
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.
Retail investors please call Don Currie on 1-888-990-3551.