I posted this on advfn earlier and it refers to the Dec 29th...

I posted this on advfn earlier and it refers to the Dec 29th Presentation - slide 15

This slide is about the only one in the public domain, that gives us any indication of what's going on or being attempted in Polk County.

If you look very closely at the left hand of the 3 dark red spots in a cluster on the seismic amplitude, you will see on the very left edge of it a red dot. That is the 1985 well location.

The VOBM#1 well is actually targeting the middle one of those 3 dark red spots (the smallest one). You might be wondering why they are targeting that dark red spot and not the one next to the 1985 well. To me its simple, the 1985 well is still in production & something like 40 acres around the wellbore will be held by production, thus PANR don't own the lease covering it. I might be wrong but there's actually no public data showing the actual leases PANR currently own, which at this stage of proceeding's is just plain crazy.

First of all I was taking the dark red spots to be structural high's, but having spoken to my geologist contact, they are not. They are pointing to what should be the better quality sands at that particular depth.

These 2 links will let you access 61 & 5 pages of Texas RRC documents relating to the 1985 well (the first 23 pages from the 61 page one are a waste of time). Some of the pages have some interesting info.

https://rrcsearch3.neubus.com/esd3-...:"121270"},{"key":"district","value":"03"}]}#

https://rrcsearch3.neubus.com/esd3-...":"23955"},{"key":"district","value":"03"}]}#

These documents tell us that during drilling the 1985 well deviated by the length of a football pitch from the surface location (about 90m), but not in which direction, I suspect it went away from the hot spot ending up close to the yellow outline.

The 1985 well was drilled to a depth of 15,537ft, it was perforated over 6 intervals, the highest being 14,997-15,004ft & the lowest 15,455-87ft.

The well tested at 950 MCFD on an absolute open flow test with some condensate/oil. It started out normal production at 890 MCFD & 72 barrels of condensate/oil, which is marginal between it being classified as a gas well or an oil well.

In Nov 2000, it was re-tested and flowed at 10 MCFD & 4 BO with no water production and was reclassified at that point as an oil well, in Dec 2005 gas production ceased.

Viewable production records on a monthly basis only go back to Jan 1993, where is was doing 3,500 MCF of gas per month & 290 barrels of condensate/oil per month. During the period Jan 1993 to Dec 2000 it produced in total 126,631 MCF of gas & 7,353 BO. From Jan 2001 until now it has produced an addition 37,823 MCF & 7,737 BO.

Total production from the well is listed as 351,269 MCFG & 28,557 BO so production from say Sept 1986 (as it was tested Mar 86, but had no pipeline) to Dec 1992 (a period of 6 years 3 months) was 186,815 MCFG & 13,467 BO.

The Double A Wells field also has these red spots and we suspect the better producing wells there are the ones associated with or close to those bits, which is why you can get a really good well (14 Mboe's) right next to one doing only 1 Mboe's.

It would appear they are trying to use the same methodology on prospect A, unfortunately we don't get to see the mini basin itself in any of the slides in the public domain, so we don't know if the 1985 well is in the mini basin or on the edge of it etc?

Also of concern is the fact that the top producing interval in the 1985 well was at 14,997-15,004ft and the VOBM#1 well is only going to 15,000ft !!

By now, you might be sensing some frustration at the lack of key pieces of information being in the public domain. Without them its really had to make informed decisions.

LOTM