This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Cramer's Action Alerts PLUS - See his portfolio and get alerts BEFORE every trade. Learn more NOW!

GeoPetro Resources Company Provides Update On The Cook Inlet LEA #1 Well

Linc reported that gas from LEA #1 was sampled from 31 intervals from depths of 1,500 feet to the total depth of 6,323 feet. The completed analysis of that gas confirmed that all 31 samples contain pure, dry natural gas (methane: CH4) in the range of 99% to 100%. Natural gas of this purity does not require treatment or conditioning before delivering it to market. The well is located approximately 1.5 miles from a major pipeline capable of carrying the gas to market.

The adverse weather and freezing conditions in Anchorage prevented Linc from completing the planned flow tests over the Christmas period.  These severe weather conditions can alter the results of the flow test and significantly increase testing costs. The Operator is planning to carry out these tests as soon as the severe cold temperatures of the Alaskan winter have passed.  The Operator has reported that they are aiming to have a Flow Test Rig on site in late March 2011.

Stuart J. Doshi, President and CEO of GeoPetro Resources Company, said, "The recent announcement by Linc on the LEA #1 is promising.  We are excited about the potential of a commercial gas discovery in Alaska.  This could be the beginning of an aggressive drilling program on the Alaska Leases."

In addition to testing LEA #1 and continuing to develop the Point Mackenzie Block, Linc Energy has confirmed that it will push ahead with the start up of phase two of the Alaskan natural gas drilling program by the middle of this year in the Trading Bay Block leases which are located on the northwest side of the Cook Inlet approximately 70 miles from the site of LEA #1.  These leases hold a number of promising prospects that Linc plans to aggressively pursue.

2 of 4

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Try it NOW
Only $9.95
Try it NOW
14-Days Free
Try it NOW

Check Out Our Best Services for Investors

Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
Try it NOW
Try it NOW
Try it NOW
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
SYM TRADE IT LAST %CHG

Markets

DOW 18,096.90 -106.47 -0.58%
S&P 500 2,098.53 -9.25 -0.44%
NASDAQ 4,967.1410 -12.76 -0.26%

Partners Compare Online Brokers

Free Reports

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs