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 VANCOUVER, Canada, July 29 /PRNewswire/ -- Terry Alexander, president of Arakis Energy Corporation (NASDAQ: AKSEF), reported the successful drilling of three additional gas wells in the company's current 50-well exploration and development program. The 50-well program is underway on Arakis' lease acreage in southeastern Kentucky and northeastern Tennessee. Arakis owns a 100 percent working interest in the leases and the wells. So far, the company has drilled 32 gas wells of this current program, of which 31 have been successful.
 No. 30 -H. Clawson no. 3 open-flowed 1,700,000 CFG/D (240 psi)
 No. 31 -Cornett et al no. 1 open-flowed 200,000 CFG/D (280 psi)
 No. 32 -Chambers Cornett no. 3 open-flowed 1,200,000 CFG/D (260 psi)
 (CFG/D equals cubic feet of gas per day)
 These wells were drilled to test the Devonian Black Shale Formation at approximately 2,500 feet. The Mississippian Big Lime plus the Waverley Formations also produce higher up in the stratigraphic column in the area.
 The company has recently acquired a 7,000 acre lease block from the State of Kentucky. This block is close into the Canada Town Gas field located in Whitley County, Kty.; five locations have been delineated to drill on this prospective acreage, with the drilling of the first of these to begin by Sept. 1, 1993.
 The Kerns Meadors no. 1 gas well has recently been fracture treated into the Corniferious Knox Formation at 3,800 feet, within a pay zone of almost 90 feet. This well was classified as a "tight hole" while new acreage was being acquired around the potential discovery well. After fracture treating, the well developed an emulsion problem set up by a blend of unexpected oil and the Gel used in the fracture treatment. The well has been shut-in following a 1,000 p.s.i. pressure build up. The Morris Shelley no. 1 gas well was recently drilled through to the Knox as a confirmation well, located three miles to the east. The Morris Shelley no. 1 experienced the same log correlations as the Kerns Meadors no. 1. This well has also been shut-in for testing after running 4-1/2 inch tubing through to the Knox. The company is currently waiting for its consultants to solve the emulsion problem before redesigning the fracture treatment to address the significant potential of this new pay zone. The potential reserves for this new gas zone estimated by our geological engineers could be 2-4 billion cubic feet per well; the average natural gas well drilled in our immediate area range from 300- 500 million cubic feet of productible reserves.
 Arakis Energy Corp., is a Canadian-based natural gas/oil exploration and development company which is actively developing its natural gas reserves located on 110,000 acres of controlled leases in the Appalachian Basin. In addition, Arakis is in final negotiations with the Government of Sudan to bring into production a 280 million barrel proven oil reserve located in Central Sudan; a final draft of the Production Sharing Agreement has been submitted to the Government of Sudan for their approval. Arakis' common shares trade on the NASDAQ system in the U.S. under the symbol AKSEF.
 -0- 7/29/93
 /CONTACT: David Robinson of Arakis Energy Corp., 800-665-7037 or 604-685-7933/

CO: Arakis Energy Corporation ST: British Columbia IN: OIL SU:

WB-MG -- NY050 -- 7512 07/29/93 12:14 EDT
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Publication:PR Newswire
Date:Jul 29, 1993

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