Latest news on the Lippincott#17 & W.2. projects field reports
We have been approved for our 99 well master bond and wait for
it to be issued hopefully this week. We have a load of oil to sell and our
gatherer will be Truth Resources in Conroe, Texas. They are about 30 minute
drive from where I reside. We could get a bonus for our oil due to being 22 gravity
and possibly having lithium mixed in our oil.... They are running a test to see if it does.
Cox/Mckeever Lease:
We should have five wells pumping after Sam finishes up some electrical work. Two
Cox, McKeever and the Whatley wells
W2 Lease:
We have bought a new SWD pump that will take all water for the project. The Bourne well
sits across the hwy from the other 9 wells and a water line runs underneath the highway and connects
to the SWD well at the Bourne Lease.
We were informed that the Bourne has had a workover and never pumped because the previous owner
never pumped it because he shut all wells down waiting for release from two partners. This deal has
been sitting there for 5 years and never produced. It should do very well for us. Sam is installing the new
SWD pump now and will turn on the Bourne well. It's electrical system is separate from the other wells and
we could see 4-5bopd out of this fresh well. Sam is reseating the electrical master pole and will turn on the
wells that will produce.... The wells that are not classified as strippers will need to be pumped and show proof
they will only produce below 9bopd and area state man will sign off on them....Sam knows this guy and no problems.
We hopefully will have 7 wells pumping within days and making money for our people including us....
All in all great news on all fronts, production about to increase and oil prices are above $80...looking strong
More news to follow as we get them,
Thanks, EnerGyne Resources