next well should spud soon

"next well should spud soon"

Glamour Girl should be off and running very soon, going by recent announcement.

Glamour Girl Project, Duval County, Texas.
(Emerald earning 15% Working Interest)
Emerald, through its US subsidiary Emerald Gas USA LLC, has agreed to participate in a
15% working interest in the Glamour Girl project, located in Duval County, Texas, as
previously reported. The first well on the project will be an 8,000 foot well to test sands in
the Cook Mountain and Queen City formations. It is located updip (approx 120 feet from
seismic) from a well drilled in 1983 by ARCO which had strong gas shows in the Queen City
sands and calculates “gas-bearing” from downhole logs. The well was drilled for deeper
objectives and the Queen City sand tested non commercial production rates without
fracture stimulation. The prospect covers approximately 2,000 acres.
The Glamour Girl prospect is a non-pipe test based on twinning the 1983 Arco Elizabeth
Taylor No 1 well with excellent Queen City log pay, mud log shows and SWC parameters.
The well is positioned on a 2,000 acre closure mapped on a giant structural nose trending SW toward the Mestena Grande Field. Over 100 miles of 2-D seismic defines the structure
and trap. Several offset locations are mapped for the productive Mestena Queen City gas
bearing sands.
A 23-foot Queen City sand in the Arco Elizabeth Taylor has been identified as gas bearing
with expected flow rates with fracture stimulation of 1.5 to 2.0 MMCFD and 30-60 BCPD. In
1983 the sand was perforated and flowed at non-commercial rates without fracture
stimulation.
Potential reserves at the Glamour Girl Prospect vary from 20-40 BCF gas (depending on
sand development and quality) and 1 – 2 million barrels of condensate (light gravity,
high quality oil).
The project will be operated by Anderson Oil Company, an experienced and competent,
Houston based operator with 60+ years of operations. Emerald has committed to payment
of 20% of the land, seismic and geology costs and 20% of the costs of the first well to
casing point, to earn a 15% interest in the project. Upon success the project has the
potential to move swiftly to a multi-well development with existing pipeline infrastructure
traversing the project area.