Corridor Reports on Initial Post-Frac Test Results.HALIFAX, Nova Scotia For other uses, see Halifax. Halifax, Nova Scotia may refer to any of the following:
TSX Transfer from Stack Pointer to Index TSX True Space Extension VENTURE:CDH Congenital diaphragmatic hernia (CDH) A condition in which the fetal diaphragm—the muscle dividing the chest and abdominal cavity—does not close completely. Mentioned in: Prenatal Surgery ) announced today the results of initial flow tests following frac stimulation operations at the McCully field conducted during the past two months. The initial flow rate results from the recently fraced wells are very promising, and Corridor now believes that there are sufficient gas reserves and well deliverabilities to proceed with applications to the New Brunswick New Brunswick, province, Canada New Brunswick, province (2001 pop. 729,498), 28,345 sq mi (73,433 sq km), including 519 sq mi (1,345 sq km) of water surface, E Canada. government and Public Utilities Board for approvals to construct gathering lines, a gas plant and a 30 mile pipeline to connect the McCully field with markets in New Brunswick and New England New England, name applied to the region comprising six states of the NE United States—Maine, New Hampshire, Vermont, Massachusetts, Rhode Island, and Connecticut. The region is thought to have been so named by Capt. through the Maritimes & Northeast Pipeline (M&NP) system. The next step for Corridor is to meet with its partner Potash Corporation of Saskatchewan The Potash Corporation of Saskatchewan, today generally referred to as PotashCorp, is a Canadian corporation based in Saskatoon, Saskatchewan that is the world's largest producer of potash. The company was created by the government of Saskatchewan in 1975. (PCS (1) (Personal Communications Services) Refers to wireless services that emerged after the U.S. government auctioned commercial licenses in 1994 and 1995. This radio spectrum in the 1. ) early in the new year, to further plans for this next stage of development. In October and early November, Corridor successfully placed fracs in the "A" and "B" sands in the C-67 well, the "A" and "B" sands in the G-67 well, the "A", "B", "D" and "E" sands in the O-66 well, and the "B" sand in the K-57 well. Preliminary flow tests have been conducted on these wells as well as on the previously fraced D-48 and J-65 wells, and the results are presented in the table below. The flow rates and pressures reported are at the end of the test flow periods. The O-66 and C-67 wells have cleaned up reasonably well, whereas flow rates at the G-67 and K-57 wells have been impeded by the presence of unrecovered frac fluids in the wellbores and surrounding areas. Flow results for the D-48 and J-65 wells have demonstrated significant improvement on re-test compared to the very poor rates Noun 1. poor rates - a local tax for the relief of the poor Britain, Great Britain, U.K., UK, United Kingdom, United Kingdom of Great Britain and Northern Ireland - a monarchy in northwestern Europe occupying most of the British Isles; divided into England and measured more than three years ago when these wells were fraced and first tested.
Sands Flow Choke Flow Tubing Head
Well Fraced Duration Size Rate Pressure
-------------------------------------------------------------
(hours) (mm) (mmscf/day) (psi)
C-67 A & B 67 7.94 3.2 1410
G-67 A & B 40 5.56 0.9 978
O-66 A, B, D & E 92 12.7 5.7 955
K-57 B 61 7.14 0.9 634
D-48(i) B, D & E 47 7.14 2.7 1147
J-65 B 48 7.14 2.2 1102
TOTALS (As tested) 15.6
(i) Denotes Corridor 100% well, otherwise above wells are 50%
Corridor, 50% PCS
The wells have now been shut in for a pressure build-up build·up also build-up n. 1. The act or process of amassing or increasing: a military buildup; a buildup of tension during the strike. 2. period andthe C-67, G-67, O-66 and K-57 wells will be re-tested in mid/late January, 2006 to determine flow rates following a further short shut-in period. It is not possible to know at this point in time how much shut-in time will be required to allow remaining frac fluids to settle out in the formation and to determine the ultimate full production potential of the G-67 and K-57 wells. However, based on the experience of the previously fraced D-48 and J-65 wells, Corridor expects to achieve significantly improved flow rates from these wells once the remaining frac fluids have dissipated dis·si·pat·ed adj. 1. Intemperate in the pursuit of pleasure; dissolute. 2. Wasted or squandered. 3. Irreversibly lost. Used of energy. . Following completion of the initial pressure build-up period in early January, 2006, the flow rate and bottom-hole pressure results for the six tested wells will be analyzed by independent reservoir engineers in order to predict the longterm production performance of the wells. Drilling operations at the McCully D-57 well have commenced and are progressing at a depth below 250 meters in the Mabou rock formation. The well is being directionally drilled to a bottom-hole location several hundred meters to the east of the A-67 discovery well, and is expected to reach a total vertical depth of approximately 2500 meters in the Fredericks Brook shale formation by the middle of January. Consideration is also being given to bottoming the well at a location (A-67B) approximately 400 meters to the east of the A-67 discovery well to facilitate better drainage of the reservoirs in that portion of the field. PCS must give notice to Corridor by early January if it is to participate in the D-57 well. A follow-up frac stimulation program is planned for the late spring, 2006. At that time the previously drilled P-56 well, the recently drilled B-58 well, the currently drilling D-57 well and any additional wells that may be drilled in the interim, will be fraced and tested. Well logs for the P-56 and B-58 wells lead Corridor to believe that these wells could also be significant gas producers following frac stimulation treatments. Corridor is hopeful that the currently drilling D-57 well will also be successful. The McCully field, located near Sussex in south central New Brunswick, is estimated to contain in excess of one trillion cubic feet of gas-in-place in the Hiram Brook formation. Two wells have been on production since April, 2003 supplying natural gas at an average rate of two million cubic feet per day to a limited local market. The D-57 well is the thirteenth well to be drilled in the McCully field, with all previous twelve wells encountering natural gas. The well is intended to add reserves and production capacity to supply natural gas to markets in New Brunswick and New England via a 30 mile pipeline connecting the McCully field with the Maritimes & Northeast pipeline system. Pending timely regulatory approval and financing of the facilities, Corridor expects to be flowing natural gas to M&NP by the end of 2006. The Company's objective is to be onstream as soon as practicable to respond to the strong gas markets and prices for 2007 as currently predicted by the gas futures markets futures market, a commodity exchange where contracts for the future delivery of grain, livestock, and precious metals are bought and sold. Speculation in futures serves to protect both the developers and the users of the commodities from unfavorable and unpredictable . Sufficient quantities of natural gas will be reserved for present and future requirements of PCS and for any other competitive markets in the Sussex and Havelock have·lock n. A cloth covering for a cap, having a flap to cover and protect the back of the neck. [After Sir Henry Havelock (1795-1857), British soldier.] Noun 1. areas. Corridor's 2006/2007 drilling plans are currently being reviewed. However, it is likely that additional McCully wells will be drilled and fraced prior to the end of 2006. The C-67, G-67, K-57, O-66, B-58 and D-57 wells are located within an area that has recently been independently appraised by APA (All Points Addressable) Refers to an array (bitmapped screen, matrix, etc.) in which all bits or cells can be individually manipulated. APA - Application Portability Architecture Petroleum Engineering and Petrel petrel (pĕ`trəl), common name given various oceanic birds belonging, like the albatross and the shearwater, to the order known commonly as tube-nosed swimmers. Robertson Consulting Ltd. in November/December, 2005, and this updated report is expected to be finalized and available for review on Corridor's website www.corridor.ns.ca. by December 19th. A map of the McCully Drilling Program is available at the following address: http://www.ccnmatthews.com/docs/cdh1212.jpg Corridor is a junior oil and gas exploration and production company, headquartered in Halifax, Nova Scotia, with interests onshore in New Brunswick, Prince Edward Island Prince Edward Island, province (2001 pop. 135,294), 2,184 sq mi (5,657 sq km), E Canada, off N.B. and N.S. Geography One of the Maritime Provinces, Prince Edward Island lies in the Gulf of St. and Quebec, and offshore in the Gulf of St. Lawrence Noun 1. Gulf of St. Lawrence - an arm of the northwest Atlantic Ocean off the southeastern coast of Canada Gulf of Saint Lawrence Atlantic, Atlantic Ocean - the 2nd largest ocean; separates North and South America on the west from Europe and Africa on the east . "Statements in this Press Release may constitute 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. . Such forward-looking statements include risks, uncertainties and other factors which may cause actual results, performance or achievements of Corridor to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements.Corridor does not undertake to update any of such forward-looking statements." The TSX Venture Exchange TSX Venture Exchange Originally called the Canadian Venture Exchange (CDNX), this was a result of the merger of the Vancouver and Alberta stock exchanges. The goal of TSX Venture Exchange is to provide venture companies with effective access to capital while protecting investors. has neither approved nor disapproved the information contained herein. Corridor Resources Inc. (TSX VENTURE:CDH) |
|
||||||||||||||||||||||||

Printer friendly
Cite/link
Email
Feedback
Reader Opinion