Wentworth Energy Announces the First Successful Gas Discovery on Its East Texas Mineral Blockadmin
Wentworth Energy, Inc. is pleased to announced its first gas discovery on the Company’s 27,557-acre mineral block in East Texas following the drilling and testing of its No. 1 Brakens’ well. The well was completed by Wentworth Energy’s drilling services subsidiary Barnico Drilling. A four point test yielded a calculated absolute open flow of 2.1 million cubic feet of gas per day. Seismic data and offset well control are sufficiently encouraging to begin permitting up to eight locations offsetting this well on the same structural feature. Drilling of the No.1 Brakens’ well commenced in late October 2006 and was drilled by Barnico Drilling Services’ Rig #7 to a total depth of 5,504 feet.
“The independent four point flow test conducted as per Texas Railroad Commission regulations has confirmed the commercial viability of the well as a gas producer,” said Tom Temples, Wentworth Energy Vice President of Exploration and Production. “The gas flowed from two zones in the Woodbine sand over a gross interval from 4,918 to 4,948 feet. The well had a calculated bottom hole pressure of 2050 psi. The Company has commenced permitting on the eight new offsets and will begin drilling over the next several weeks. Wentworth Energy is currently waiting for hookup to a pipeline and once that is completed the No. 1 Brakens’ well will commence production.”
On November 2nd, Wentworth Energy announced that Marathon Oil Company (NYSE: MRO) had signed a three-year agreement to lease approximately 9,000 acres of the 27,557-acres to drill deep wells on the mineral block. In addition, Wentworth Energy and Marathon Oil Company signed a Joint Operating Agreement to partner in the development of the shallower Woodbine and Rodessa formations on the 9,000-acre section of the mineral block.
About Wentworth Energy, Inc.
Wentworth Energy owns a 27,557-acre mineral block in east central Freestone County and west central Anderson County in the active East Texas Basin, as well as an active oil and gas contract drilling company, Barnico Drilling Services, which has serviced East Texas drilling demand since the late 1970s. Wentworth Energy applies innovative technologies toward the discovery and development of a diverse portfolio of high-value, low-risk energy projects in North America, including the oil and gas fields of East Texas. Wentworth Energy trades under the ticker symbol WNWG. For more information on the Company visit www.wentworthenergy.com
This Press Release includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Act of 1934. A statement identified by the words a_oexpects,” “projects,” “plans,” and certain of the other foregoing statements may be deemed “forward-looking statements.” Although Wentworth Energy believes that the expectations reflected in such forward-looking statements are reasonable, these statements involve risks and uncertainties that may cause actual future activities and results to be materially different from those suggested or described in this press release. These include risks inherent in the drilling of oil and natural gas wells, including risks of fire, explosion, blowout, pipe failure, casing collapse, unusual or unexpected formation pressures, environmental hazards, and other operating and production risks inherent in oil and natural gas drilling and production activities, which may temporarily or permanently reduce production or cause initial production or test results to not be indicative of future well performance or delay the timing of sales or completion of drilling operations; risks with respect to oil and natural gas prices, a material decline in which could cause the Company to delay or suspend planned drilling operations or reduce production levels; and risks relating to the availability of capital to fund drilling operations that can be adversely affected by adverse drilling results, production declines and declines in oil and gas prices and other risk factors.
Contacts: Wentworth Energy, Inc. Barry Forward Corporate Communications & Investor Relations 1-800-725-9149
Wentworth Energy, Inc. Corporate Offices Toll Free: 1-877-329-8388 (817) 288-0983