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           21 January, 2021


    
Category:  Press » Miscellaneous

 

Gulf Western Petroleum Completes Red Breast # 1 Gas Well: Four for Four in Texas Shamrock Project

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2007-10-31 05:42:00     
Gulf Western Petroleum Corp.

Gulf Western Petroleum Corporation ("Gulf Western") (OTCBB: GWPC/Frankfurt: GER), is pleased to announce that they have been advised by the Operator that the Red Breast # 1 Frio well is drilled, completed and currently undergoing testing. The Red Breast was drilled and casing set to 3120', and will be produced from 2896' to 2906'. The drilling rig has moved to the Michael Collins # 1 location which is scheduled to spud today. The Michael Collins will be the fifth and final well in the Shamrock Project.

The Shamrock Project is a five well Frio-age prospect identified through 3-D seismic. The target objective is the Jameson Sand at 3200'. Frio-age wells have proven to be prolific natural gas producers throughout the Texas Gulf Coast region. Typical Frio wells produce at approximately 200 to 300 Mcf per day with estimated total recoverable reserves of approximately 500 million cubic feet to 1 Billion cubic feet.

Gulf Western currently has three of the five wells completed and tested. These wells are the Polinard-Lee # 1 well; the Miller-Thomas # 1 well; and the Bushmill # 1 well. All three wells flow tested in excess of 300 Mcfd and are awaiting meters to be set at the delivery point of the pipeline. The extension of the gathering system that is required for the two additional wells is currently under construction and all five wells are scheduled for hook up within the next ten to fifteen days.

This press release may include forward-looking statements based on the Company's current expectations as to future events. The forward-looking events and circumstances discussed in this press release might not occur, and actual results could differ materially from those anticipated or implied in the forward-looking statements. For example, the extraction and sale of natural gas from the wells involves a number of costs and risks, which may limit our ability to generate cash flow from the wells. In addition, the business of Gulf Western Petroleum Corporation is subject to a number of risks typical of an oil and gas exploration and development company including, among other things, the inherent uncertainties associated with oil and gas exploration; laws, environmental, judicial, regulatory, political and competitive developments in areas in which Gulf Western Petroleum Corporation operates; and technological, mechanical and operational difficulties encountered in connection with Gulf Western Petroleum Corporation's activities.

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