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WPX Energy, Inc. Message Board

  • wworld933 wworld933 Sep 25, 2012 12:23 PM Flag

    DEJ Dejour Energy sucessfully drilled immediately adjacent to Williams Energy (NYSE: WPX) $.224 +0.030 (+15.46%)

    DEJ Dejour Energy sucessfully drilled immediately adjacent to Williams Energy (NYSE: WPX) $.224 +0.030 (+15.46%) . The 72% owned Kokopelli project in the Piceance Basin, Colorado directionally drilled to total depth 8440 feet, just below the base of the Rollins Formation has encountered formation quality and gas column thickness similar to other recently drilled wells in the immediate area. The 2500' of gross gas column, depth and composition of formations encountered were as expected. The target zone in the Lower Mesa Verde Formation is comprised of sands, silts, shale and coals typical of other wells recently drilled in the Kokopelli Field. The well has been cased to total depth in preparation for completion operations. Completion operations, including perforating, fracturing and production tie-in are expected to be completed during Q4 2012.

    As previously reported, this 2,200 acre project is ideally situated for exploitation of both the Williams Fork and Mancos hydrocarbon laden sand/shale bodies immediately adjacent to Williams Energy (NYSE: WPX) and Bill Barrett Corporation (NYSE: BBG) who are developing and producing their respective leaseholds to the east, west and north of the Company's acreage. Brownstone has worked closely, through its operator, Dejour Energy Inc. (NYSE MKT: DEJ)(TSX: DEJ), with important constituents including local citizenry, government, the Bureau of Land Management and the Colorado Division of Wildlife to develop a mutually acceptable development plan for this environmentally sensitive area.

    Sentiment: Strong Buy

11.60+0.10(+0.87%)Aug 25 4:02 PMEDT