Aztec Encounters Formations at Tx. Well

Aztec Encounters Formations at Tx. Well

Thursday, March 31, 2011

Aztec O&G Inc.

Aztec announced the Welder A-37 was drilled to a total depth of 6,208 feet and encountered multiple formations.

"Utilizing sidewall cores to further evaluate the well's electric log, there appear to be four to five zones of commercial interest in the probable to possible categories," stated Waylan Johnson, President of Aztec Oil & Gas, Inc. Furthermore, he stated, "The A-37 is our second successful well in the area, and we are working on several more ideas in San Patricio County. This county is typical of the type of area in Texas where we are afforded the opportunity to find sizeable reserves shallower than 6,500 feet."

Several Texas Independent Producers have joined Aztec as Partners in the San Patricio County area drilling as Aztec continues its dedication to drilling low-risk, shallow oil wells in Texas.

Strike Preps for Testing at Sadie Well

Strike Preps for Testing at Sadie Well

Thursday, March 31, 2011
Strike Energy Ltd.

Strike advised that production casing has been set in preparation for testing at the Sadie-1 well at the onshore Homeplace prospect in the Gulf Coast, Texas, USA.

Gas shows encountered while drilling and subsequent wireline logging indicate potential gas pay intervals in the main Wilcox Formation objective.

The current plan is to test the well direct to sales. Options to tie into nearby pipelines are currently being investigated. It is anticipated that pipeline installation and scheduling of fraccing equipment will enable testing to commence in two to three months.

The Homeplace prospect in the Wilcox Formation, in which Strike holds a 40% working interest, has a prospective gas resource of 15-20 billion cubic feet (Bcf). The prospect has the potential to more than double the Company’s growing gas and condensate reserves.

FAR Confirms Kora Drilling Agreement with Ophir

FAR Confirms Kora Drilling Agreement with Ophir

Friday, March 25, 2011
FAR

FAR announced that Detailed Agreements have now been finalized with Ophir confirming the terms of an earlier Heads of Agreement to participate in the drilling of the Kora Prospect via the acquisition of a 10 percent paying interest (8.8% beneficial interest) in the AGC Profond PSC, offshore Senegal and Guinea Bissau. Regulatory approval has been granted by the AGC Joint Authority. The agreements also allow Ophir the right to acquire a 22.5% beneficial interest in FAR's Senegal licences.

The Kora well is targeting a prospect having mean prospective oil resources of 448 million barrels (100% basis, Rocksource estimate). The well will be operated by Ophir using the semi-submersible rig Maersk Deliverer and is expected to spud around 11 April 2011 and take in the order of 24 days. The expected spud date may vary depending upon the timing of release by an existing contractor in Ghana from where the rig will mobilize to the AGC area.

The well location is 285km south west of the port of Dakar in a water depth of 2651m. The planned minimum Total Depth for the Kora well is 4,251mSS (approx. 1,600m below the mudline) although consideration will be given to drilling deeper based on the geology encountered.