Business
DALLAS, TX–(Marketwired – Sep 12, 2013) – BRS Resources Ltd. (TSX VENTURE: BRS) is pleased to announce that Po Valley Energy Limited (PVE) has carried out initial testing of the Quaternary gas bearing level of the Gradizza-1 exploration well. BRS is participating in the well through its membership interest in AleAnna Resources, LLC. As previously announced, AleAnna and PVE executed a farm-in agreement which allowed AleAnna to earn a 10% interest in the Gradizza prospect and La Prospera permit. The Gradizza-1 well encountered good gas shows and a drilling break in the target Pleistocene-age sand interval. After coring and logging, operations confirmed the presence of a gas-bearing reservoir exceeding 33 ft (10 m) in thickness and 7-in. casing was run and cemented to a total depth of 3,372 ft (1,028 m). The well was perforated from 2,808 to 2,822 ft (856 to 860 m), gravel packed, and 2 3/8-in. production tubing installed. The initial shut-in tubing pressure recorded was 1,110 psi (78 kg/cm2), indicating original pressures and no depletion by any area production. Initial flowing tubing pressures and rates varied by choke size and averaged over 220 psi (15 kg/cm2) in flowing tubing pressure with varying rates between 175,000 to 250,000 cu ft per day (5,000 to 7,000 cu m per day). Although no formation water was associated with gas production during the test, the cleanup process is not complete. The flow rate is expected to improve once cleanup is achieved. The completion zone appears to have minor skin damage that may clean up when the well is released to production or may require stimulation to achieve production potential. PVE will take the next few months to review the data and consider rigless testing to better evaluate the real reservoir capability. “We’re pleased with the initial results of the Gradizza-1 well and look forward to additional testing to get a better gauge of production rates and ultimate recovery,” commented Steven Moore, president/CEO of BRS Resources. “What’s more significant for BRS and AleAnna Resources is that the Gradizza-1 well affirms the viability of a number of analogous drillable prospects on AleAnna’s neighboring Ponte del Diavolo permit.” Social Media Strategy by IR Smartt