Gulfmark to Drill 1st Eagleford Shale Well

- Gulfmark to Drill 1st Eagleford Shale Well

Friday, August 05, 2011
Gulfmark Energy Group Inc.

Gulfmark Energy announced its wholly owned subsidiary, Gulfmark Resources, Inc., has filed for drilling permits with the Texas Railroad Commission and intends to drill its initial test well on its 4,261 acre Kiefer Lease in Zavala County, Texas, upon permit approval. The Kiefer lease is situated in the northwestern portion of the oil window of the Eagleford Shale trend of South Texas. Gulfmark intends to drill vertically through the Escondido, Olmos, San Miguel, Austin Chalk and Eagleford Shale formations and will evaluate results by open hole logs and core samples. The Company's primary objective is to penetrate the Eagleford Shale and plans to drill horizontally approximately 3,000 to 4,000 feet upon reaching this prolific shale play.

Michael Ward, President and CEO, stated, "With recent discoveries within the Eagleford Shale formation, we are very excited to begin our development drilling program and increase our shareholder value. With success through the drill bit, we hope to expand our horizons and fully exploit the resources that lie within our leasehold."

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Eagleford Energy to Boost Productivity at San Miguel Formation

- Eagleford Energy to Boost Productivity at San Miguel Formation

Tuesday, June 14, 2011
Eagleford Energy Inc.

Eagleford Energy has performed a nitrified acid injection treatment in the San Miguel formation on its Matthews/Dyami #3 well. A nitrified acid treatment was injected into the wellbore using a coil tubing unit to improve conductivity around the wellbore, increase productivity and satisfy a condition of the lease purchase agreement. These objectives have been accomplished. The injection operation was successful and fluid level measurements within the wellbore are considerably higher which is indicative of materially improved inflow of oil from the reservoir. The well is currently undergoing production testing and has been recovering minimal amounts of treatment water and is primarily producing oil. The oil gravity is approximately 10 degree API and production rates are varying due to ambient surface conditions.

Under the terms of a Farmout Agreement announced by the Company on April 8, 2011, the farmee may spend up to $1,050,000 on exploration and development to earn a maximum of 50% of the Company's working interest or a 42.50% working interest (31.875% net revenue interest) from surface to the base of the San Miguel formation on the Company's Matthews Lease. The farmee earns an initial 21.25% working interest by paying 100% of the costs to drill, complete, equip and perform an injection operation on the Matthews/Dyami #3. The farmee may increase its working interest to 42.5% by spending the entire $1,050,000 on additional operations on the San Miguel in a good faith effort to produce hydrocarbons.

Albert Dawsey of Dawsey Operating LLC stated, "We are pleased with the initial production results from completing this first San Miguel oil well. The data gathered from drilling this well and the completion results indicate enhanced recovery processes for this heavy oil can sustain production of the field. This new data also supports prior information about the oil in place and the ability to produce significant amounts of oil from the reservoir."

The Company's Matthews Lease comprises 2,629 acres of land in Zavala County, Texas. Zavala County, Texas is part of the Maverick Basin of Southwest Texas and downdip from the United States Geological Studies north boundary of the Smackover-Austin-Eagle Ford total petroleum system. This area is often referred to as the oil window of the present Eagle Ford shale play.

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Eagleford Reaches Target Depth in Matthews/Dyami Well

Eagleford Reaches Target Depth in Matthews/Dyami Well

Monday, May 02, 2011
Eagleford Energy Inc.

Eagleford Energy Inc. announced Monday that the Matthews/Dyami #3 well has reached its projected target depth to the San Miguel formation and testing is currently underway.

The Company's Matthews Lease comprises 2,629 acres of land in Zavala County, Texas and is situated adjacent to the Redhawk land block under development by Petrohawk Energy Corp. Zavala County, Texas is part of the Maverick Basin of Southwest Texas and downdip from the United States Geological Studies north boundary of the Smackover-Austin-Eagle Ford total petroleum system. This area is often referred to as the oil window of the present Eagle Ford shale play

Eagleford Energy Inc. is a growth orientated oil and gas company with a focus on growing hydrocarbon reserves, cash flow, and net asset value per share through exploration and production of mineral properties in South Texas. There are approximately 33 million shares issued and outstanding in the capital of the Company.

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Eagleford Enters San Miguel Farmout

Eagleford Enters San Miguel Farmout

Friday, April 08, 2011

Eagleford Energy Inc.

 

Eagleford has entered into a Farmout Agreement from surface to the base of the San Miguel formation on the Matthews Lease located in Zavala County, Texas. Under the Farmout, the farmee may spend up to $1,050,000 on exploration and development of the San Miguel formation to earn a maximum of 42.50% working interest (31.875% net revenue interest).

Under the terms of the Farmout, the farmee may earn an initial 25% of the Company's working interest in the San Miguel by paying 100% of the costs to drill, complete, equip and perform an injection on a vertical test well to a depth of approximately 3,500 feet (the "Initial Test Well").

After the performance of the Initial Test Well, the farmee may increase its working interest to 50% of the Company's working interest by spending the entire $1,050,000 on additional operations on the San Miguel in a good faith effort to produce hydrocarbons.

The Company's Matthews and Murphy Leases are situated in northeast Zavala County, Texas, and is part of the Maverick Basin of Southwest Texas, downdip from the United States Geological Studies north boundary of the Smackover-Austin-Eagle Ford total petroleum system. This area is often referred to as the oil window of the present Eagle Ford shale play.