California Oil & Gas Corp. Krotz Springs Well, Louisiana Drilling Completed, Well Completion and Testing Planned.CALGARY Calgary (kăl`gərē), city (1991 pop. 710,677), S Alta., Canada, at the confluence of the Bow and Elbow rivers. The largest city in Alberta and the fastest-growing major city in Canada, Calgary is a corporate, transportation, and financial , Alberta -- California California (kăl'ĭfôr`nyə), most populous state in the United States, located in the Far West; bordered by Oregon (N), Nevada and, across the Colorado River, Arizona (E), Mexico (S), and the Pacific Ocean (W). Oil & Gas Corp. (OTCBB OTCBB See OTC Bulletin Board (OTCBB). : COGC COGC Church of God in Christ ) announces the Haas-Hirsch No. 1 (Krotz Springs Unit # 60) well in St. Landry Parish, Louisiana St. Landry Parish (French: Paroisse de Saint-Landry) is a parish located in the U.S. state of Louisiana. The parish seat is Opelousas. In 2000, the population of the parish was 87,700. As of 2006, the population estimate is 91,528. , has reached total depth of 11,030 feet (MD) and a production liner liner /lin·er/ (lin´er) material applied to the inside of the walls of a cavity or container for protection or insulation of the surface. liner see teat cup liner. run in preparation for completion and testing within the Cockfield Formation. Haas-Hirsch No.1 well encountered what are indicated by mud and electric logs to be two geo-pressured, gas-bearing Cockfield sandstones at measured depths of 10,252 feet to 10,294 feet; and, 10,616 feet to 10,634 feet respectively. Porosity porosity /po·ros·i·ty/ (por-os´it-e) the condition of being porous; a pore. po·ros·i·ty n. 1. The state or property of being porous. 2. log and micro log data obtained from the well indicates the upper sand contains a minimum of 15 net feet of potential gas pay, while the lower sand contains a minimum of 16 net feet of potential gas pay. A service rig has been contracted and testing of the Haas-Hirsch No. 1 well is anticipated to commence within two weeks. Test results and initial flow rates will be announced after completion and testing. Gulf Oil discovered Krotz Springs Field in 1942 with the drilling of the Haas-Hirsch # E-1 well. Most of the 900+ BCF BCF Billion Cubic Feet BCF Bioconcentration Factor BCF British Chess Federation BCF British Coatings Federation BCF Breast Cancer Fund BCF Bank Credit Facility BCF Bulked Continuous Filament BCF British Cycling Federation BCF Boeing Converted Freighter of gas production at Krotz Springs has been derived from sandstone sandstone, sedimentary rock formed by the cementing together of grains of sand. The usual cementing material in sandstone is calcium carbonate, iron oxides, or silica, and the hardness of sandstone varies according to the character of the cementing material; quartz reservoirs in the Lower Frio and Cockfield Formations. The Krotz Springs Field has been a prolific gas/condensate field throughout its 60 year history. Other Cockfield and Frio reservoir targets have been identified within the approximately 4500 acre Unit farmout area. COGC and its partners are planning to pursue these additional targets pending the successful completion of the Haas-Hirsch No. 1 well. COGC has a 25% working interest in this well and any future program in the unit. The Haas-Hirsch No. 1 well was directionally drilled from the surface location of a previously producing well. As such, pipelines and facilities exist at the location which could be utilized for this well. Therefore, following successful completion and testing of the Haas-Hirsch No. 1 well, commercial production could commence in short order, utilizing these existing facilities. On Behalf of the Board John G. F. McLeod, President Forward Looking Statement Statements in this news release that are not historical facts are forward- looking statements that are subject to risks and uncertainties. Words such as "expects", "intends", "plans", "may", "could", "should", "anticipates", "likely", "believes" and words of similar import also identify forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. . Forward-looking statements are based on current facts and analysis and on forecasts of future results, estimates of amounts not yet determined and assumptions of management. Forward-looking statements in this news release include statements about the Company's belief that the Haas-Hirsch No. 1 well can be successfully completed, tested and tied into existing facilities and pipelines at the surface location for production, and that the Company can pursue additional targets in the Lower Frio and Cockfield formations. The Company's actual results may differ materially from those anticipated in these forward looking statements due to any of a number of factors beyond the Company's control. These risks and uncertainties include, among other things, the risks that are inherent in oil and gas exploration and otherwise inherent in the Company's operations. These and other risks are described in the Company's Annual Report on Form 10-KSB and other filings with the Securities and Exchange Commission, which can be viewed at www.sec.gov. |
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