LOWE#7 - Project Update
Lowe is not doing well. The formation is not giving up much fluid. Yesterday we made 1 bbl of oil, 9 bbls of water and 22 mcf of gas. Very disappointing. I am afraid there was some depletion in the zone since it drank so much of the cement when we tried to squeeze it,
EnerGyne Resources note:
At this time we have aksed Gary, for an update on other treatments that can be done to the well to increase fluid, which will add more oil to the daily production.
At this time we are looking at an yearly return of 20 - 25 % to investor, which is not bad, but we have hoped for more and still do, we just need to figure out if more can be done to the well.
More NEWS will follow as we get it.