Samson Oil & Gas Limited (ASX: SSN) (NYSE AMEX: SSN) provides operational advice.
HAWK SPRINGS PROJECT, GOSHEN COUNTY, WYOMING
Spirit of America US34 #2-29, (SSN 100% WI)
As previously advised, the Spirit of America #2 well intersected 61 feet of pay as interpreted by the electric logging program, and its subsequent analysis in the Permo-Pennsylvanian section.The frac equipment is onsite, and pumping operations are expected to commence this evening. The initial frac will stimulate the lower perforations at around 10,000 feet, comprising 31 feet of interpreted log pay. The second stage at around 9,300 feet will stimulate a single 7 feet of interpreted log pay and the third stage at around 9,200 feet will stimulate three sandstones with 23 feet of interpreted log pay. All three stages are expected to be completed in the next 48 hours; however, this schedule is dependent on being able to latch on and relocate both the bridge plug and packer to each of the subsequent stages. Given that the well will be flowed back between each stage, frac sand could be deposited on the bridge plug, making this operation difficult. It is therefore possible that the tubing will be required to be tripped out of the hole, thus extending the time required to complete the three stages. If an adequate rate is obtained from this frac, then there would be many opportunities to pursue, both within the SOA prospect itself (such as drilling the Clipper location immediately adjacent, and subsequently the twenty-four, 40-acre spaced wells within this prospect) and in the 24 seismically defined prospects within the project area. These prospects have substantially identical seismic properties to the SOA #2 prospect, which has now been proved to be generated by porosity development within the Permian section. Some of these prospects are located at substantially shallower depths, and could provide a consequential improvement in reservoir quality.
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass + 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV