Titan Energy Ltd is pleased to announce preliminary success in the initial test of the 2015 developmental drilling program on Allen Dome.
JT Reese #14 preliminary evaluation results
After encountering numerous oil shows during the drilling process, the JT Reese #14 has reached a Total Depth of 4,390 feet and has been logged to a depth of 3,950 feet. Preliminary results and highlights of the test are as follows:
•The dual induction triple combo log on the Reese #14 down to 3,950 feet indicates a minimum of eight prospective oil bearing pay zones beneath the overhang down to the bottom of the logged interval.
•This result is based upon extensive log analysis and correlation with producing zones inpreviously produced offset wells from the 1920's through the 1980's.
•The Company successfully drilled through over 1,300 feet of cap rock and overhang asanticipated in the drilling plan.
•The well has been drilled to a total depth of 4,390 feet. Based upon correlation with previously drilled wells, the Reese # 14 has encountered all formation targets, which formed the objective of the well.
•There was no loss of circulation encountered while drilling through the overhang dome material or below. This is the first well since 1978 on the dome that has successfully done so.
•The logging tools sat down on a sand bridge at 3,950 and were unable to log the lower interval from 3,950 to 4,390 feet.