tahara out :)

Oklahoma based (Australian Securities Exchange listed) oil and gas exploration and production company, Red Fork Energy Limited (“Red Fork” or the “Company”) is very pleased to provide the following further update on production testing operations at the Tahara #1-28H well (Red Fork 100% Working Interest), in Pawnee County Oklahoma.
As of January 19, 2012 the well is continuing to clean up as the fluid level is lowered. The rate of pumping is being monitored continuously and the rate at which the fluid level is lowered is being carefully controlled to ensure optimum reservoir management and recoveries.
The well continues to produce by pumping through tubing via the ESP and intermittent flow through the casing on 16/64th inch choke. There is currently approximately 2,000 feet of fluid above the ESP and the calculated bottom hole pressure is 1,023 PSI.
During this period of initial testing, while production is intermittent and has not yet stabilized, the well has continued to produce to sales with a 30-day peak rate of 304 barrels of oil equivalent per day recorded (80% crude oil).
Importantly, the high fluid level and bottom hole pressure (which would support a calculated open flow rate significantly higher than this 30 day peak rate) indicate that as the fluid level is lowered production rates (both oil and high BTU gas) would normally increase.
Notwithstanding this further potential, using these early test results and based on the sales achieved during this testing period, the well is already on track to achieve a net 1 to 1 payout in approximately 8 months and support an EUR in the range of the play average.