Golden Arch Resources Announces Flow Test Results.VANCOUVER, British Columbia--(BUSINESS WIRE)--Aug. 10, 1999-- Golden Arch Resources (OTC OTC See: Over-the-counter. OTC See over-the-counter market (OTC). BB:GARCF) (VSE See DOS/VSE. VSE - Virtual Storage Extended :GAI.) is pleased to announce it has received flow test results for its 10-percent-owned Warren/Thurmond No. 1 discovery well, located in Coleman County, Texas Coleman County is a county located in the U.S. state of Texas. In 2000, its population was 9,235. It is named for Robert M. Coleman, a signer of the Texas Declaration of Independence and soldier at the Battle of San Jacinto. The seat of the county is Coleman6. . The well was perforated in the Caddo Lime formation at a depth of 2078 feet. The well did not require stimulation and cleaned up on its own. A five-hour, four-point flow test conducted on Aug. 6, 1999, resulted in the following flows of natural gas with related pressures. Flow through a 18/64 choke at 329.2 psi: 599,000 Cubic feet/day Flow through a 16/64 choke at 344.2 psi: 490,000 Cubic feet/day Flow through a 14/64 choke at 384.2 psi: 417,000 Cubic feet /day Flow through a 12/64 choke at 414.2 psi: 326,000 Cubic feet/day Wellhead shut-in pressure is 884.2 pounds per square inch Noun 1. pounds per square inch - a unit of pressure psi pressure unit - a unit measuring force per unit area and the well was calculated to have an absolute open flow potential of 750 thousand cubic feet of natural gas per day. Connection of the well is underway and gas sales will commence this week. The gas produced is expected to be sold at the current spot price for natural gas which is $4.20Cdn ($2.80 USD USD In currencies, this is the abbreviation for the U.S. Dollar. Notes: The currency market, also known as the Foreign Exchange market, is the largest financial market in the world, with a daily average volume of over US $1 trillion. ) per thousand cubic feet. Payback of drilling and completion costs is expected to take less than six months. Production will be adjusted to maximize volume and accumulation over the life of the reservoir. Further exploration drilling is expected to prove additional potential reserves on the 2600-acre lease block. 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). assumes no responsibility for the accuracy of this release and neither approves nor disapproves thereof. |
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