Activa Resources AG has achieved further success in its Tait prospect in Colorado County, Texas. The fourth well (CCRP No.1) has now been successfully drilled encountering three productive intervals.
Activa has elected to complete and set pipe. It is anticipated that the well will go on production in the next 30 days. The first three new wells were drilled earlier in the year and are currently producing in total approx. 750 MCFD from the shallow Frio section.
Activa is collaborating with AKG Energy of Austin, Texas to develop the Tait prospect and owns working interests of 15% to 20% in each well. The survey work and drilling to date have confirmed the presence of productive Lower Frio intervals in the 1,400 acre play.
Activa expects to participate in drilling 2 additional wells in 2007 and 3 more in 2008.
The drilling successes at Tait support Activa’s strategy of developing US oil and natural gas assets. Activa’s CEO Leigh A. Hooper adds: “We have achieved a 100% drilling success rate so far on this prospect. The 3D seismic analysis that was conducted in 2005 has provided multiple lower-risk drilling opportunities in the shallow Frio objectives, from which we are currently producing natural gas. We are also planning to drill a deeper objective later this year which can provide substantial revenue potential to Activa.”
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