Mesa Energy owns 25% working interest in the Gipson #1 well and any future Hunton or Brent Sand/Atoka wells to be drilled on the acreage, 35% working interest in the Cook #1 well and a 5% carried interest in the Sally B #1 well, a proposed re-entry south of the Coal Creek acreage.
According to the report, the estimated proved reserves attributable to the company’s interests are 1.165 billion cubic feet (bcf) and estimated probable and possible reserves are approximately 5.24bcf .
Randy Griffin, CEO of Mesa Energy, said: “Based on the performance of the two Brent Sand wells that were completed and connected to the pipeline in September 2009, we now believe that the Brent Sand in the field may be depleted.
“However, based on the drilling reports and testing during the drilling of the Gipson #1 well, there is obviously a substantial quantity of gas in the Hunton Sand zone and, although the completion technique used in that zone proved to be ineffective, we believe that adjustments to the completion methodology are likely to result in successful Hunton Sand wells in the future. We expect to work with the operator on this project and to pursue the development of additional gas reserves in the Coal Creek Field later this year.”
