Two fields fine tuned for the new 59 well program

Thursday night we logged the Rainman well (we now have two verified oil fields – The Guy Ranch and The Rainman Field) for the 59 well Black Shale program. The Bluff Creek sand (2,420’) came in strong as thought. We got a significant show in the Gunsight sand.

The Canyon sand (3,420’) was better than expected or almost 30’ thick. We will complete in what appears to be a nice thick oil sand that produced 2 million barrels of oil in a nearby Anson field.

We also found the multiple Strawn sand package (4,600’ to 4,800’) below the Canyon sands. In future years we will test those sands since we predict they will produce more natural gas than oil. Natural gas was a highly sought after commodity of choice until about 2005, now it is oil. We think natural gas and oil will have almost equal price footing in future years.

With the completion of this well, we now have two good oil fields verified, the Guy Ranch and now the Rainman Fields means many new oil well locations. Three other oil fields may be added to that verified list of good oil producers in the near future.

We will add 2-3 new wells from the Guy Ranch field to the new 59 well package. We will also add 2-3 new wells from the Rainman Field. These verified structures will create a solid footing for our latest package.