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      Project update - Houston Energy Resources - Lippincott#17 & W.2.

      Project update - Houston Energy Resources - Lippincott#17 & W.2.


      This is the updated field report from Sam as of last nite.

      Cox/McKeever leases:

      We have three new electrical transformers installed by the power company

      and it seems to have fixed the ongoing problems that have burned up several thousands of dollars of electrical motors. Our SWD problems are now fixed with using the Smith well and taking water in nicely. We have 2 Cox wells pumping and our gun barrel has refilled and oil is now flowing into our stock tanks. We will have two more McKeevers and the one Whatley well

      on line after 3-4 wells are pumping on the W2 leases.

      We have all operations approval and bond in place with the state of Louisiana.

      W2 Lease:

      We are working to bring online 3-4 wells on this lease and will be a slow process due to the amount of mechanical it is requiring to be fixed.

      We had to purchase another pumping unit, belts, polish rod and stuffing box, 3-4 new electrical motors and change out of another pumping unit.

      We hope that the rods do not have to be stripped out from wells being sanded up. The Bourne well will be interesting to see how she pumps after being fixed. Will be good.

      This sounds good so far and a game of inches at times but, it's going to be good after it is completed. Then, we carry on to complete the rest of the wells.

      This completes the report for today.