Bongo Prospect/O.B. Ranch #1 Well, Wharton County, Texas. Caza announced on August 13, 2010, that the completion procedure for the O.B Ranch #1 well would involve perforating the wellbore across multiple intervals in the Cook Mountain sandstone formation and flow-testing the well. The ensuing fracture stimulation procedure was expected to be delayed due to market conditions for fracturing equipment and crews as long as 60 days. Caza now expects to perform these operations including the fracture stimulation procedure by mid-November. Caza has a 40% working interest before completion and a 42.24% working interest after completion (approximate net revenue interest 30%) in the well.
VIL Price at posting:
1.4¢ Sentiment: Buy Disclosure: Held