Hemi 2 Well Comes in at 68 Bbls Per Day and Increases Mature Wells Production
April 16 2007 - 9:45AM
Business Wire
Hemi�s first new oil well (the Hemi 2) on the Reno lease located in
Woodson County, Kansas, has Initial Production at 68 bbls per day.
The oil pay zone stimulation process used to complete the Hemi 2
well has produced a more efficient and better producing well. This
Initial Production is significantly higher than the results seen in
the typical SE Kansas oil wells. The application of the information
derived from the additional testing and completion techniques used
on the Hemi 2 well will allow all new wells to be completed in a
much more efficient and timely manner. This important oil pay zone
stimulation process developed by Hemi greatly increased oil
production in its mature reworked wells, which were located within
� to 1 mile from the new well, at the same time it was producing
the first new well. Five mature wells that were producing
approximately 3 to 5 bbls per day each have increased their
baseline production to more than 5 to 8 bbls per day each. There
are also an additional eight wells that are in the process of being
reworked within a �-mile radius to the new well. Based on a test
well production, Hemi�s opinion is that this stimulation process
will also improve each of these 8 reworked wells� oil production
that will be baselined in bbls per day within less than two weeks.
Hemi�s process will increase production from 4 geological pay zones
as multiple new wells are completed this spring on contiguous
leases. Hemi�s extensive library of geological information about
all pay zones in our area of southeast Kansas, and the testing
information derived from producing our first new well, was used for
the development of this process. The application of this process
for new wells to be drilled on all five leases, which also have
mature reworked wells and encompasses over 3 square miles in
Woodson County, Kansas, will substantially increase total oil
production from mature reworked wells. The importance of being able
to efficiently produce more oil per well at less cost per bbl from
mature reworked wells cannot be over-emphasized. The blanket
geological formations in southeast Kansas and the Humboldt-Chanute
field will become more valuable pay zones using Hemi�s oil
stimulation process on leases with mature oil wells. Hemi Energy
Group is an independent crude oil and natural gas producer
employing a unique business model capitalizing on technological
advances to exploit mature fields with millions of barrels of
proven oil remaining in the ground. Using attractive lease/royalty
packages, Hemi has secured, in its history, tens of thousands of
acres of productive domestic projects. The company�s
forward-thinking strategy has placed it in an enviable position at
a time when prices and global demand for oil continue to rise.
Building on decades of experience in enhanced oil recovery, Hemi
has successfully amassed a substantial and attractive portfolio of
these high-quality domestic properties. By streamlining operations
through cutting-edge technologies, Hemi has the ability to operate
more effectively and efficiently than larger oil companies. For
additional information, please go to http://hemienergy.com or
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Act of 1995 Statements in this press release relating to plans,
strategies, economic performance and trends, projections of results
of specific activities or investments, and other statements that
are not descriptions of historical facts may be forward-looking
statements within the meaning of the Private Securities Litigation
Reform Act of 1995, Section 27A of the Securities Act of 1933 and
Section 21E of the Securities Exchange Act of 1934. Forward-looking
information is inherently subject to risks and uncertainties, and
actual results could differ materially from those currently
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