Striker Oil & Gas begins gas sales from Catfish Creek-2 well

Thu. February 05, 2009; Posted: 05:01 AM

Feb 05, 2009 (Datamonitor via COMTEX) -- SOIS | Quote | Chart | News | PowerRating -- Striker Oil & Gas has connected the Catfish Creek-2 well on the Catfish Creek prospect, located in east Texas, to its recently completed pipeline gathering system and it is currently flowing gas and associated condensate to sales prior to stimulating the Pettit formation.

After the stimulation, the expectations are for a significant increase over the current flow rates. The well was completed in the Pettit formation with perforations at 10,435ft to 10,438ft and 10,448ft to 10,458ft.

The prospect consists of over 12,800 gross acres with full development of this prospect potentially yielding 30 wells to 50 wells testing the Pettit and Rodessa formations. Striker has approximately 33% working interest before payout (25% after payout) on the prospect.

Kevan Casey, CEO of Striker Oil & Gas, said: "We are happy that we have this well tied into our new gathering system and are very optimistic that the stimulation of this well will meet or exceed our expectations.

"Future field plans will be to immediately begin stimulation operations on our Catfish Creek-1 well which has been flowing oil for over the past 16 months un-stimulated and then follow that with the completion of our recently drilled Catfish Creek-3 well."

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