Striker Oil & Gas announces 137 gross BOPD recompletion in its North Edna Prospect
  by: OilOnline
  Tuesday, June 03, 2008

Striker Oil & Gas, Inc. has successfully recompleted the LeJeune No. 1 well in its North Edna prospect located in Jefferson Davis Parish, Louisiana.  The well came online last week and is currently producing 137 gross barrels of oil per day to the 100% working interest. The decision to move uphole to perforate what could be the best zone in the well was made necessary when the last zone ceased to flow. Based on the current flowing oil rate of the well, payout of the recompletion should occur in less than 15 days. Using current prices and the evaluation of this zone by Striker’s third party reservoir engineering firm, approximately $1,000,000 in net revenue should be generated to Striker’s interest from this single interval. The North Edna Field has produced over 10 Bcf of gas and 700,000 barrels of oil. Striker has a 40% working interest before payout and a 29.6% net revenue interest before payout in this prospect.

“The first two zones in this well have exceeded our initial estimates and we are optimistic on this additional zone,” said Kevan Casey, Chief Executive Officer of Striker. “This recompletion was done in a way that will enable us to go back downhole and evaluate the previously completed zones for additional production in the future using artificial lift.”

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