Perth, Dec 3, 2008 AEST (ABN Newswire) - Sun Resources NL (ASX:SUR)(PINK:SNRDF) is pleased to advise that the Jones-Stewart Gas Unit #1 well on the Herradura prospect ("F1") was opened to sales on Friday November 28th 2008. Sun Resources' working interest in the F1 discovery is 37.5%.
Sun Resources also advises that work over operations have been completed on a number of wells over the last two months:
- The work over on the Lake Long #9 well in Louisiana was completed on October 25th and at last report was producing at a gross rate of 2.5mmcfde.
- The Thompson Barrow #3 well in the Milagro Oil Field recommenced production on November 28th after the installation of rod pump equipment. At last report the well was pumping at a gross rate of 140 barrels of fluid per day with 10% oil cut, and the oil cut was increasing.
- The fraccing job on the D-24 well in the East Flour Bluff field has been completed successfully with the gas rate increasing from less than 100mcfd to in excess of 600mcfd (gross), plus associated oil/condensate.
- The fraccing job on the Smith#1 in the Flour Bluff Field well is due to commence this week.
Commenting on these activities, Mr Matt Battrick, Managing Director of Sun Resources stated; "As a result of a successful work over programme, Sun Resources' net production rate has risen recently to in excess of 0.8mmcfd and 16bopd and this should increase further following a successful work over at the Smith #1 well on the Flour Bluff Field. This activity will maximise revenue at relatively low cost through the remainder of the fiscal year to June 30th 2009. Sun continues to progress its strategy in the USA in this measured way to build cashflow from the US asset base through our fully funded drilling/work-over program."
Contact
Matt Battrick
Managing Director
Sun Resources NL
Tel: +61-8-9388-6501
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