Asdar Group - Completion Of First Well Pair.Business Editors BELLINGHAM, Wash. & VANCOUVER, B.C.--(BUSINESS WIRE)--Oct. 11, 2000 Asdar Group (OTCBB OTCBB See OTC Bulletin Board (OTCBB). :XBET) reports an update on the (SAGD SAGD Steam-Assisted Gravity Drainage (oil extraction process) SAGD Security Architecture Guidance and Directions ) Steam Assisted Gravity Drainage Steam Assisted Gravity Drainage (SAGD) is an enhanced oil recovery technology for heavy crude oil and bitumen. Description Two parallel horizontal oil wells are drilled in the formation. pilot plant facility that is already in progress at the LAK LAK In currencies, this is the abbreviation for the Laos Kip. Notes: The currency market, also known as the Foreign Exchange market, is the largest financial market in the world, with a daily average volume of over US $1 trillion. Ranch, located in Weston County, Wyoming Weston County is a county located in the U.S. state of Wyoming. Its county seat is Newcastle6. History Weston County was organized in 1890. Geography According to the U.S. Census Bureau, the county has a total area of 6,216 km² (2,400 mi²). . The LAK Ranch Project has through third party reports, in excess of 100 million barrels of oil, with a plan to recover up to 75% of the reserves. The first "well pair" comprising of a steam injector well and a producer well has been successfully completed. The Production Well (Derek 1-P) intersected 1,639 gross horizontal feet of Newcastle sandstone in the prolific oil bearing Newcastle sand formation. The measured length of the well was 3213 feet. The Injector Well (Derek 2-1) was emplaced an average 24 feet above and parallel to the first well. The LAK Ranch is strategically located near Texaco's tank farm facility and is close by another major independent refinery. In addition, LAK Ranch oil is expected to yield West Texas Immediate Pricing. The completion of the pilot plant facilities and the start-up of the SAGD operation is expected before year-end. "Robert Waters" Signed Robert Waters President Safe Harbor Statement under the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995: The statements contained herein which are not historical fact are forward-looking statements that are subject to risks and uncertainties that could cause actual results to differ materially from those expressed in the forward-looking statements, including, but no limited to, certain delays in testing and evaluation of products and other risks detailed from time to time in Asdar's filings with the Securities & Exchange Commission. |
|
||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion