DUGAS AND LEBLANC #3 DRILLING UPDATE
Napoleonville -Dugas & Leblanc #3 Well, Assumption Parish, Louisiana, Non Operator 39.5% WI
The Dugas & Leblanc #3 well spudded on 16th April 2011. The well is presently drilling ahead at 7,100 ft and will be drilled to a depth of 8,000ft TVD. The well is anticipating intersecting the “M” sand shortly.
The Dugas & Leblanc #3 well is being drilled updip of the #2 well and will target the gas in the M, N, Stray and O sands. Production will start at the lowest known sand, the O, and as each zone depletes the zone above will be completed. The expectation is that the D&L #3 well will be a gas well with the D&L #2 well recovering the oil in the “M” Sand. The D&L #2 well is currently completed and producing in the “N” sand. Once this production depletes the 41ft of net pay in the “M” sand will be completed for production.
The potential oil recoverable from the Dugas & Leblanc field is estimated at 7 BCF and 305,000 BBLS and will be recoverable over the following intervals (see attached release).
The “N” Sand has proven to date in D&L #2 to exhibit a strong water drive in the “N” Sand. However, the dominant drive mechanism in the remaining sands is an unknown variable.
The high permeability and porosity of the sands indicate potential flow rates of over 4,000 mcfgd in the D&L #3 well resulting in significant cash flow generation.
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