Earth Search Science Unit to Test South Louisiana Gas Discovery.
MCCALL, Idaho--(BUSINESS WIRE)--April 12, 2000
Earth Search Sciences, Inc. (OTCBB:EDIS) today announced that the company's newly formed imaging technology subsidiary, Petro Probe, Inc., has successfully completed its first exploration venture with International Petroleum, LLC and Tolar Energy, LLC, which drilled and logged a 15,200-foot gas-condensate well in Lafayette Parish, Louisiana.
This well encountered 420 feet (14,650-15, 070) of gross gas-condensate pay-sand in the Bol Mex V Interval, which exhibited no water. This zone consists of alternating productive sands incased in, and interbedded with, shales. The net productive thickness of these multiple sands is approximately 60 feet, which will ultimately be perforated for production. These productive sand members of the Bol Mex V Interval should thicken and clean up off structure and ultimately be produced by this discovery well.
This well will be completed and tested in three to four weeks. Since the production facilities and gas contract are already in place, the well should go on production within a month after testing. Tests will estimate production rates, proved and probable reserves and the impact on Earth Search Sciences, Inc. and its subsidiary, Petro Probe, Inc.
Earth Search Sciences' Petro Probe, Inc. unit holds a 5% working interest ownership position in the Lafayette Parish, Louisiana well. The remaining 95 percent is owned by International Petroleum, LLC and Tolar Energy, LLC. Petro Probe, Inc. has also collected imagery over several additional oil and gas projects in Wyoming, Utah and Australia. Wyoming collections include the "Patrick Draw"/"Table Rock" fields, the new "Jonah" field gas discoveries in the Green River basin and a coalbed methane play in the eastern Washakie Basin. The Utah project is situated over an existing algal mound producing field and exploration prospect in the southern Paradox Basin. Australian collections include surveys in the Surat and Darling Basins with a proposal outlined to collect data in the North Sydney Basin for coalbed methane exploration downdip from coalmines.
Earth Search Sciences formed Petro Probe, Inc. to apply its hyperspectral remote sensing technology to hydrocarbon exploration and development. Petro Probe provides air and space remote sensing services under contract to identify evidence of seepage from subsurface hydrocarbon deposits. Subsequently, Petro Probe may take equity positions in promising properties with the highest potential for development.
Earth Search Sciences is a leading provider of commercial remote sensing services. The company's aircraft-mounted PROBE-1 remote sensing instruments provide highly accurate measurements of the signature light reflections from identifiable features of the Earth's surface. Clients include firms engaged in mineral and petroleum exploration, environmental assessments, and other activities requiring highly accurate interpretive images of the Earth's surface. Additional information about the company is available at http://www.earthsearch.com.
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|Date:||Apr 12, 2000|
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