Not sure if posted before from yahoo message board
With a bit of luck we might get a few more wells out of the Bakken & three forks area.
EOG Downspacing in the Bakken & Three Forks...Woohoooo!!! 15-Sep-10 08:42 am Arsenal Energy Inc. Releases Operational Update marketwire
Press Release Source: Arsenal Energy Inc. On Tuesday September 14, 2010, 9:53 pm EDT
CALGARY, ALBERTA--(Marketwire - Sept. 14, 2010) - Arsenal Energy Inc. ("Arsenal") (TSX:AEI - News; FRANKFURT:A1E - News) has completed drilling of the Three Forks formation in the Jerol well (12.5% WI) at Lindahl, North Dakota. The well had excellent shows and has been cased with fracture stimulation scheduled for early November. The previously drilled Bakken formation James Philip well (35% WI) is scheduled for fracture stimulation in September. In addition, Arsenal has secured a drilling rig for its operated Brenlee (41% WI) and Amy Elizabeth (57% WI) wells with a scheduled spud date for the first well in early November. Test results for all wells will be released as they become available.
The North Dakota Industrial Commission has recently approved a downspacing application by EOG Resources increasing the allowable drilling density from 1 well to 3 wells per 640 acre spacing unit for parts of the Stanley Bakken pool. The pool includes both the Middle Bakken zone and the Three Forks zone. The lands approved include three sections in which Arsenal has an interest. Arsenal believes the approval sets a precedent that will be followed for the entire field. Arsenal believes that drilling two wells into the Bakken and one into the Three Forks for each spacing unit will result in the most economic recovery of the reserves. This approval extended over the entire field would result in Arsenal having an additional 41 gross (16 net) drilling locations at Stanley. Arsenal has additional Bakken lands at Lindahl and possibly at Black Slough that could also be approved for downspacing in the future.
Arsenal has begun the permitting process for a 4 well program at Princess targeting the Detrital/Pekisko and a 10 well program targeting the Granite Wash at Evi. The first well at Princess is scheduled to spud in late September and the first well at Evi is scheduled for early October.
Arsenal is a junior oil and gas company engaged in the exploration for, and development and production of, natural gas and oil reserves primarily in Alberta and North Dakota, U.S.A. Arsenal's common shares trade on the Toronto Stock Exchange under the symbol "
Sentiment : Buy
SSN Price at posting:
6.8¢ Sentiment: Hold Disclosure: Held
