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There are many control wells that have been producing in the Hunton as shown on the map below. These wells show that when the water is removed the oil production will increase. The reduction in pressure from dewatering the Clarita will over timer allow considerable production of oil from this structure The estimates of the horizontal well production shows a considerable economic value in recovering the oil in place over the years to come if such a percentage or higher recovery from the reservoir were achieved.

Production - Recompletion and multi stage frac, Logan Co. OK

To: Prospective Participants

The following describes the infield development of the OIL CREEK BEND project by drilling an offset well known as the "SWAN 14-2H" in Hughes County, Oklahoma. The geology from the logs in wells close by indicate a potential structural trap in the Oil Creek Sands at a depth of 6094’ to 6150’ a thickness of up to 56 ft. The estimated Oil Creek Sand reserves based on a saturated zone (Micro Log Shows Good Permeability) is 203,000 BO.

The SWAN 14-2H can be drilled and completed for $2,945,000 and calculates provide a potential net return over 4X money. 

DESCRIPTION OF FIELD

As indicated in the attached report by geologist exploration consultant Joseph D. Kersey, the history of the proposed field has proven to be successful. Production has been proven in several different formations and has shown highly significant returns in our multiple target zones. 

STRUCTURE OF PROSPECT

The SWAN 14-2H will be a direct offset to the key well, Warren 1-14. The proposed well will be drilled to the target depth of 6,250 feet to the Oil Creek Sand. 


The SWAN #14-2 has multiple potential productive zones with the potential over time to produce initially in the lower zones, moving up the hole as zones below deplete. In this manner it is possible to complete six or more separate potential reservoirs under the pronounced structure on a large up thrown structural fault block. The off-setting Warren well and logs established non-exploited oil and gas saturated Pennsylvanian Formations. These Pennsylvanian Sands are predominately fluvial dominated channel sands and distributary channel and point bar sands of a transgresive-regressive deposition cycle and have a oil and gas trapping mechanism of a structural stratigraphic type. The SWAN tests geologically higher than the Warren 1-14 in and should provide a trap against a fault to the West.



   Exploration and Development:

Bedford Energy Inc is the operator for the WARREN #1-14 project. The Warren #14-1 (C-S/2-NE-NE-section 14) was completed in the Wapanucka Formation (3840'-3860') with gas production of over 1 million cubic feet of gas per-day with very little water. This well paid out in 4 months.


Target reserves are primarily the Oil Creek Sands (Ordovician) (6094’ To 6150’)& 56 Ft Of Oil which are saturated SWAN #14-2H is expected to be 40 ft higher than the Warren, and the Micro Log Shows Good Permeability. The Oil Creek Sands reserves are estimated at 203,000 BO. (Est. Well Net Revenue of $14,495,400)

Other SWAN #1-14 zones include the McClish Sand at (5716’ to 5720’) & (5936’ to 6040’) Virgin Ordovician Formation 86 Ft of Oil (micro log shows good permeability) estimated recoverable reserves 158,400 BO. Gilcrease (4275’ to 4279’), Cromwell Sands (4312’ to 4316’) & (4332’ to 4342’) & Jefferson Sands have potential for an additional estimated production of 100,000 BO .