PetroTech Oil and Gas Inc. has spent the last month preparing the lease building a new tank battery, installing a new disposal pump, reworking four of the existing gas wells and building the first of 18 new well sites. PTOG began drilling evening setting surface pipe and rigging to drill the Brown 29-1. The company drilled 700' so far just now entering the Bartlesville oil zone. The company expects to complete the drill, log and review results over the weekend.

Production rates in this area range from 15 to 50 barrels of oil per day (BOPD) per well with typical results averaging between 5 and 10 BOPD. Initial flow rates can be higher for a short duration before settling into this range with the quality of crude being excellent (33deg to 42deg API oil). Natural gas is the fallback position in this area due to shallow Excello shale that blankets the area as do several methane gas bearing coal seams. As such, natural gas is almost always produced in a well in this area with production rates ranging from 5,000 to 200,000 cubic feet of gas per day (5 to 200 MCFD).

Since most of this gas is produced from coal seams, initial production rates are actually lower and increase over the first few months because coal seams must "dewater," where water in place in the coal seam is brought to the surface freeing up the gas to begin coming to surface through the well bore. As a result, a typical scenario would be for a well to produce from a coal seam and after dewatering for about a month to start giving up -its natural gas. The flow rate of between 950 to 1,050 BTU gas will usually start around 5 MCFD and increases as the water comes off with most wells settling in around 30-50 MCFD.

In PTOG's project area, there is an estimated 98% completion rate and 100% discovery of gas, making it one of the lowest risk exploration areas in the country. Production rates in this area range from 2 to 50 barrels of oil per day (BOPD) per well with typical results averaging between 5 and 10 BOPD. Initial flow rates can be higher for a short duration before settling into this range with the quality of crude being excellent (33deg to 42deg API oil).

Natural gas is the fallback position in this area due to shallow Excello shale that blankets the area as do several methane gas bearing coal seams. As such, natural gas is almost always produced in a well in this area with production rates ranging from 5,000 to 200,000 cubic feet of gas per day (5 to 200 MCFD).