potential

This is what Credo reported last week. One thing to note though is they drilled a longer lateral..


Credo All Smiles over First Bakken Well's High Rate
Credo Petroleum Corp. 2/17/2010
URL: http://www.rigzone.com/news/article.asp?a_id=87812

Credo Petroleum has provided an update on its Bakken horizontal drilling project in Dunn County, North Dakota.

Petro-Hunt 148-94-17D-08-1H ("17D") Well Successfully Completed

Credo's first Bakken well has been successfully completed and production tested at high rates. During testing, the Petro-Hunt 148-94-17D-08-1H well ("17D") flowed 1,267 barrels of oil and 1.24 million cubic feet of gas, or 1,474 barrels of oil equivalent, over a 24-hour period on an 18/64 to 20/64-inch choke. Petro-Hunt LLC is the operator and Credo owns a 10% working interest.

The 17-D well was drilled on a 1,280 acre spacing unit to an approximate vertical depth of 11,150 feet, and a 9,200 foot horizontal lateral was drilled in the middle member of the Bakken shale. The well was completed utilizing state of the art multi-stage fracture stimulation technology, and is located on the southwestern portion of the companys acreage on the Fort Berthold Reservation.

In addition to the Bakken shale, the vertical portion of the well penetrated and logged the deeper Three Forks/Sanish formation which is currently being evaluated as a separate commercial reservoir by operators in the immediate area.

Marlis E. Smith, Jr., Chief Executive Officer, said, "We are extremely pleased with the test results of our first Bakken well. Initial production is right in line with our expectations. Our success on the 17D well certainly makes our acreage in the area prime for future development.

"In addition to the Bakken, other operators are also testing the Three Forks/Sanish formation in the area of our acreage. I am encouraged by the Three Forks drilling results to date which indicate that it is a separate commercial reservoir. We are carefully monitoring the activity because we recognize the positive impact that this formation can have on Credo's position in the Bakken.

"The Bakken is the premier oil resource play in North America, and we are very excited about the growth potential that it brings to Credo."


Lots to look forward to imo!

cheers!