DGAP-News: Activa Resources AG: fourth horizontal well at OSR-Halliday is best in field to date
(firmenpresse) - DGAP-News: Activa Resources AG / Key word(s): Drilling Result
Activa Resources AG: fourth horizontal well at OSR-Halliday is best in
field to date
18.04.2013 / 08:46
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NEWS RELEASE 18th APRIL 2013
Activa Resources AG: fourth horizontal well at OSR-Halliday is best in
field to date
- Initial production rates at 4th OSR-Halliday well exceed 700 BOED
- Further production increase possible
- 5th OSR-Halliday well drilling ahead at approx. 9,000 feet
Bad Homburg, 18th April 2013. Activa Resources AG, an independent oil and
gas company with operational knowhow in the development and efficient
exploitation of oil and natural gas properties, provides initial details of
current drilling activities at its main oil and natural gas project
OSR-Halliday Unit in East Texas.
After successfully completing the 4th horizontal well (96-4H), production
rates exceeding 700 BOE have been recorded within the first days of
testing. The well, located in the southern section of the field, is still
in the early stages of flowing back its load water and could see higher
production rates going forward.
Activa's CEO Leigh A. Hooper adds: 'Based on the results in this early
phase we expect the 4th horizontal to be an excellent well. This well is
producing better than our previous wells at this stage and could be our
most productive well yet. We will be able to determine the potential of the
well in the coming weeks. Our OSR-Halliday asset has the potential for over
50 horizontal Woodbine wells in addition to potential in other targets in
the Eablebine. This latest drilling result represents a further step in
optimising and de-risking the Woodbine and Eaglebine plays'.
The 5th horizontal well (105-5H), located close to the fourth well on the
south side of the field, spudded on April 3rd and is currently drilling
ahead at a depth of 9,000 feet. Drilling operations are expected to be
finished in May. The well will be fracture stimulated shortly thereafter.
Activa has proposed additional locations for consideration to the project
partners for further drilling this year, in accordance with Activa's aim of
drilling three new wells per annum.
The Management Board
About Activa Resources AG
Activa Resources AG is an independent oil and gas company which focuses on
the acquisition, development and exploitation of oil and natural gas
properties. Activa Resources AG is listed on the Frankfurt stock exchange
and is based in Bad Homburg, Germany. The company's management and
technical team comprise oil industry experts with many years operational
experience at major international oil companies. Further information can be
found at www.activaresources.com.
Contact:
Activa Resources AG
Hessenring 107
61348 Bad Homburg
www.activaresources.com
Telefon: +49 (0)6172-483 2352
FAX: +49 (0)6172-483 2353
lah(at)activaresources.com
GFEI Aktiengesellschaft
Am Hauptbahnhof 6
60329 Frankfurt
www.gfei.de
Telefon: +49 (0)69-7430 3700
FAX: +49 (0)69-7430 3722
activa-resources(at)gfei.de
End of Corporate News
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207534 18.04.2013
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