Basin announces natural gas discovery.DENVER--(BUSINESS WIRE)--Jan. 4, 1995--Basin Exploration, Inc. (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on : BSNX) and its working interest co-owners, Tom Brown, Inc. (TOMR) and Klabzuba Oil and Gas, Wednesday announced a natural gas discovery in the West Hiawatha field, in Moffat County, Colorado Moffat County is the northwesternmost and the second most extensive of the 64 counties of the State of Colorado of the United States. The county population was 13,184 at U.S. Census 2000.[1] The county seat is Craig. . Basin drilled the Federal 19-1 to a total depth of 14,500 feet, and has completed the well in the middle and upper Nugget Nugget A 15 year Gold FHLMC (Freddie Mac) bond; similar to a Dwarf. and Entrada formations between 13,776 and 14,136 feet. The well was flow tested for ten days and produced at rates up to 2.6 million cubic feet of gas per day on a 24/64-inch choke (jargon) choke - To fail to process input or, more generally, to fail at any endeavor. E.g. "NULs make System V's "lpr(1)" choke." See barf, gag. with a flowing tubing pressure of 825 p.s.i. The well is currently shut-in and waiting on pipeline connection with first sales expected later this month. Two delineation wells are currently planned during 1995. The upper and middle Nugget formations are commercially productive in the Hiawatha field located to the east, but to date production in the West Hiawatha field has been limited to shallower formations. Basin obtained this project through farmout agreements with Texaco and Celsius Energy. Basin owns a 40% working interest in the well before payout with Tom Brown owning 30% and Klabzuba the remaining 30% before payout. Basin Exploration, Inc. is primarily engaged in oil and gas development, exploitation, acquisition and exploration in the Rocky Mountain region The Rocky Mountain Region is a floristic region within the Holarctic Kingdom in western North America (Canada and the United States) delineated by Armen Takhtajan and Robert F. Thorne. . The company's securities are traded on the Nasdaq stock market Nasdaq stock market The first electronic stock market listing over 5000 companies. The Nasdaq stock market comprises two separate markets, namely the Nasdaq National Market, which trades large, active securities and the Nasdaq Smallcap Market that trades emerging growth companies. under the symbol BSNX. CONTACT: Basin Exploration Inc., Denver Karen Mueller, 303/685-8085 |
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