Bonanza Oil & Gas provides updates on Apclark Project
  by: OilOnline
  Thursday, May 15, 2008

Bonanza Oil and Gas, Inc. has provided an update on its Apclark project located in Borden County, TX.

The Jackson # 1 well, the first in a series of fourteen (14) horizontal and fifty three (53) vertical wells planned for the Apclark project, has tested positively. After drilling to a total depth of 9,500 feet and analyzing several zones, the company and its partners have decided to complete the well with a 4,000-foot lateral (horizontal leg) in the Jo Mill Spraberry zone. “The Company is pleased with the results of the cores and subsequent logs, and is confident about the completion of the Jackson # 1,” said Bill Wiseman, President and CEO.

The Patterson Rig # 427 moved on location March 24, 2008. The well spudded the following day. Continuous drilling followed with five drilling breaks which allowed the Company to conduct core sample and drill stem tests to evaluate potential producing zones. According to Mike Douglas, geologist with Westerly Exploration, Inc., the primary objective, Jo-Mill Sand, may have expected reserves of up to 150,000 barrels of oil when drilled and completed horizontally. Deeper objectives in the Strawn, Mississippian and Ellenburger, while not productive in this wellbore, can be assigned possible reserves of up to 300,000 barrels of oil based on log analysis, mudlog shows and well tests.

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