Benz Announces Oakvale Dome Development Program.HOUSTON--(BUSINESS WIRE)--June 3, 1998--Benz Energy, Ltd. (VSE See DOS/VSE. VSE - Virtual Storage Extended :BZG BZG Bristol Zoo Gardens (UK) ) today announces that it has completed the 3-D seismic survey on its Oakvale Dome Field, Jefferson Davis County Davis County is, at present, the name of two counties in the United States:
Since beginning production in September 1997, the K. S. Byrd 31-1 No. 1 well has produced at an average rate of 7.2 million cubic feet of gas per day and 34 barrels of condensate condensate, matter in the form of a gas of atoms, molecules, or elementary particles that have been so chilled that their motion is virtually halted and as a consequence they lose their separate identities and merge into a single entity. from the Harper formation from depths of 15,964 feet to 15,988 feet. The Company owns an average 63.88% working interest in the field. Benz has completed its initial interpretation of the 3-D seismic survey and plans to begin, at a minimum, a four-well, two-rig development program beginning the second week of June 1998. The first well will be drilled as the Howell Petroleum 32-4 No. 1 to a depth of 16,600 feet in the K. S. Byrd 31-1 Gas Unit in order to complete in one or more of the five additional behind pipe gas zones that are indicated to be productive in the discovery well. Additionally, Benz has petitioned the Mississippi Oil & Gas Board for approval in its June meeting to establish 2 new Hosston 640-acre gas units. Upon approval of the gas unit expected in the June meeting, Benz will commence in July the first of three planned development wells to a depth of approximately 16,600 feet in these proposed units. James A. Honert, Exploration Manager, commented, "The 3-D seismic survey at the Oakvale Dome Field gives us the tool that should increase our reserve access per well as it lets us optimize each new well site location. In regards to production characteristics, the Oakvale Dome Field is in the upper quarter of fields that produce from Hosston gas reservoirs in the Mississippi Salt Domes." Benz is an exploration and development oil and gas company based in Houston, Texas “Houston” redirects here. For other uses, see Houston (disambiguation). Houston (pronounced /'hjuːstən/) is the largest city in the state of Texas and the , focused on the onshore U.S. Gulf of Mexico Noun 1. Gulf of Mexico - an arm of the Atlantic to the south of the United States and to the east of Mexico Golfo de Mexico Atlantic, Atlantic Ocean - the 2nd largest ocean; separates North and South America on the west from Europe and Africa on the east region. -0- The Vancouver Stock Exchange Vancouver Stock Exchange (VSE) A securities and options exchange in Vancouver, British Columbia, (Canada), specializing in venture capital companies. Vancouver Stock Exchange See Canadian Venture Exchange (CDNX). has not reviewed and does not accept responsibility for the adequacy or the accuracy of this release. -0-
CONTACT: Benz Energy, Houston
Mark Kahil, 713/739-0351
mkahil@benzenergy.com
www.benzenergy.com
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