Wentworth Energy Announces That It Has Successfully Drilled Its Fourth Well in East Texas
04 Januar 2007 - 4:30PM
Business Wire
Wentworth Energy, Inc. (OTCBB:WNWG) announced today that it has
successfully drilled its fourth well on its 27,557-acre mineral
block in Freestone County, Texas. The Red Lake Gas Unit #2-W (#2-W)
well is one of four wells drilled by Wentworth Energy during the
Company�s initial East Texas drilling program between September and
December 2006. The Company is now completing the #2-W well, which
will include an independent four point test conducted as per Texas
Railroad Commission regulations to determine the estimated flow
rate and the reserves of the well. Plans are to use a workover rig
to simultaneously complete the third well, the Red Lake Gas Unit
#1-R, which was also drilled in December. The Red Lake Gas Unit
#2-W well was successfully drilled to a total depth of 5,514 feet
and a logs were run from total depth to the base of the surface
casing. Sidewall cores were taken to analyze several intervals in
the Woodbine and Dexter (4,992-5,215�). The #2-W well encountered
over 90 net feet of potential pay in the Woodbine formation and
successfully extended the proved limits established by Wentworth
Energy�s discovery well (No.1 Brakens' well). Excellent oil shows
were reported in the Woodbine and casing is now being set. Similar
to the Red Lake Gas Unit #1-R well, the #2-W well has six
prospective zones, three within the Lower Woodbine/Dexter interval,
and two zones within the Woodbine formation including one zone that
is currently perforated and tested gas on Wentworth Energy's first
discovery - the No. 1 Brakens' well, and a Sub-Clarksville sand.
�As with the earlier wells, multiple geological intervals are
hydrocarbon saturated and will require extensive production testing
which will commence shortly. When we have completed testing wells
three and four we should be in a position to start estimating the
potential reserves from our 2006 drilling program,� said Tom
Temples, Wentworth Energy Vice President of Exploration and
Production. �The #2-W well, which is located 3000 feet northwest of
the Red Lake Gas Unit #1-R well, is the westernmost offset well
drilled to date on our East Texas mineral block. It is particularly
significant in that it proves the continuation of the reservoir to
lower structural elevations and over a large area within the
minerals.� 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 �expects," "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. Cautionary Note to U.S. Investors
The United States Securities and Exchange Commission permits oil
and gas companies, in their filings with the SEC, to disclose only
proved reserves that a company has demonstrated by actual
production or conclusive formation tests to be economically and
legally producible under existing economic and operating
conditions. We use certain terms in this press release such as
"reserves," "proven," "undeveloped proven," "probable," "possible,"
"potential," and "recoverable," that the SEC's guidelines strictly
prohibit us from including in filings with the SEC. U.S. Investors
are urged to consider closely the disclosure in our Form SB-2, File
No. 333-136878, available from us by contacting the Investor
Relations Department. You can also obtain this form from the SEC by
calling 1-800-SEC-0330.
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