FLORES & RUCKS ANNOUNCES SECOND QUARTER DRILLING UPDATE.LAFAYETTE, La.--(BUSINESS WIRE)--July 10, 1995--FNRI continues its successful drilling program at its East Bay and Main Pass properties with a success rate of 93% for such properties during the first half of 1995. "Big Kahuna (person) kahuna - /k*-hoo'n*/ (From the Hawaiian title for a shaman) An IBM synonym for wizard or guru. 2" Prospect - Producing The SL 1007 No. 45 develocat well was drilled to a total depth of 9,341 feet and encountered 61 feet of net oil and gas pay in the N2, O2, P and P2 sands. The well is currently producing in the O2 and P2 sands at a rate of 2,568 BOEPD BOEPD Barrels of Oil Equivalent Per Day . "High Five 3" Prospect - Producing The SL 1007 No. 46 development well was drilled to a total depth of 9,347 feet and encountered 64 feet of net oil and gas pay in the N2, O and O2 sands. The well is currently producing in the O and O2 sands at a rate of 1,429 BOEPD. "Channel" Prospect - Producing The SL 1012 No. 324 horizontal well drilled 372 feet of horizontal section in the M6 sand at a depth of 6,730 feet and is currently producing 422 BOEPD. "White Sands" Prospect - Producing The OCS OCS - Object Compatibility Standard 694 No. 72 horizontal well drilled 185 feet of horizontal section in the J1 sand at a depth of 6,138 feet and is currently producing 399 BOEPD. "Claw 2" Prospect - Producing The OCS 694 No. 16 S/T S/T Such That S/T Self-Titled (also seen as ST) S/T Short Ton(s) develocat well was drilled to a total depth of 11,662 feet and encountered 240 feet of net oil and gas pay in 16 sands. The well is currently producing in the O1B and P sands at a rate of 1,567 BOPD BOPD Barrels of Oil Per Day BOPD Bataan Ocean Petroleum Depot and 11,146 MCFPD. "Talladega" Prospect - Waiting on Completion The SL 1012 No. 151S/T development well was drilled to a total depth of 6,530 feet and encountered 54 feet of net oil and gas pay in the I4 & K sands. The well is currently being dual completed in the I4 and K sands and is expected to be on line in August. "Grizzly" Prospect - Waiting on Completion The SL 1012 No. 131S/T development well was drilled to a total depth of 7,748 feet and encountered 192 feet of net oil and gas pay in the M & N series sands. The well is currently being dual completed in the N4 and N1A sands and is expected to be on line in August. "Grosse Isle" Prospect - Plugged and Abandoned The J. W. Steen No. 1 exploratory well, located onshore in Vermilion vermilion, vivid red pigment of durable quality. It is a chemical compound of mercury and sulfur and is known as red sulfide of mercury; it was formerly obtained by grinding pure cinnabar but is now commonly prepared synthetically. Parish, in which the Company held a 50% working interest, was drilled to a total depth of 14,097 feet and tested four Alliance Sands that had been found productive in two offsetting fault blocks. No commercially productive pay was encountered and the well is currently being plugged and abandoned. "M&M", "High Five 4", "Heavy Iron"- Currently Drilling Drilling operations are presently underway on the Company's "M&M", "High Five 4" and "Heavy Iron" prospects located in the East Bay Fields. For the second quarter of 1995, FNRI's estimated average net daily production was 20.4 thousand barrels of oil equivalent (MBOE MBOE Thousands of Barrels of Oil Equivalent MBOE Milford Board of Education ) per day, with a net production estimated at 23 MBOE per day as of 6/30/95. Flores Flores, town, Guatemala Flores (flōrəs), town (1990 est. pop. 2,200), capital of Petén department, N Guatemala. Flores was built on an island in the southern part of Lake Petén Itzá and on the site of the & Rucks, Inc. is an independent energy company engaged in the acquisition, exploration, development and production of crude oil and natural gas. For further information, please contact Investor Relations Investor relations The process by which the corporation communicates with its investors. at 504/928-6222 or mail requests to 8440 Jefferson Highway, Suite 420, Baton Rouge, LA 70809. CONTACT: Flores & Rucks, Inc. James C. Flores, 504/927-1450 William W. Rucks, IV, 318/989-5900 Robert L. Belk, 504/927-1450 |
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