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ASX/Media
Release - 21st May 2007
Alto Energy International
Limited (Alto) (ASX: AOI) is pleased to announce an update to its current wells.
The Reed #4-8 well has been turned into the
sales gas pipeline and is currently producing at approximately 1 million cubic
feet per day (mmcfd). However, the well is still ‘cleaning up’
which means that it is still flowing back frac fluid. Therefore production is
likely to increase from current rates.
The Pate #5-18 has reached TD of 11,802 ft.
Casing will now be run and the well will be perforated, fracced and completed
as logs have shown that there is a 4 ft zone in the Spiro with better than 10%
porosity. Adjacent offset wells have flowed over 3 mmcfd from 2 ft and 8 ft
zones with similar porosity. Additionally there is potential that there may be
a pay zone from the Panola sand at 9,370 ft.
The ConocoPhillips #4 is still awaiting a
completion rig.
A turnkey bid to drill the
next well in Louisiana,
Catapult #1, is being negotiated
and Alto expects that the well will be spudded in approximately 30 days.
Alto MD Mr James Trimble
said “It is very pleasing that our first three wells in our new focus
area have all been successful. We look forward to more drilling and building on
this initial production. Our drilling campaign will accelerate once we have
completed 3D seismic interpretation in Oklahoma
in June and 3D seismic acquisition and interpretation in Napoleonville, Louisiana.”
For further information
contact:
For more information visit www.altoenergy.com.au
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