Lutters #1, #3 Wells
Trego County, Kansas
||Trego County, Kansas
||Wells 1.5 miles away producing between 35 BOPD and 200 BOPD
||750 gross acres under lease
||25% Working Interest, 20.4% NRI
|No. of producing wells:
|Depth of Production:
||60,000 BOPW—240,000 Barrels potential fully developed
|Gross Pay Interval:
|Number of Offset
Locations to Drill:
The Poston Project is located in Trego County, Kansas. The #1 Lutters well began production as a commercially viable oil well on June 18, 2009. The well produces oil in the Mississippi Dolomite. The location showed a significant 3D Seismic anomaly pinpointing the oil bearing zone. In addition, the 750 acre lease block has the potential for a multi-well program with 2 to 3 offset locations possible to fully exploit the acreage. Shipments of oil began in June2009 to the buyer N.C.R.A. (National Co-op Refinery Assoc.) of McPherson Kansas, the oil purchaser, is regularly shipping oil for sale from the Lutters lease.
In July of 2010, #3 Lutters well commenced commercial oil production. The well is the second producer at the Project. The #3 Lutters is offset to the #1 Lutters well and is part of an ongoing program designed to increase overall production from the reservoir. Oil production rates from the #1 and #3 Lutters Wells is 20 to 30 BPD range from each well. Both wells combined produce oil delivered to one tank battery and are producing between 45 and 60 barrels per day. Company engineers believe that the lease is capable of producing over 110 BPD once the wells reach stable production rates and or additional wells are drilled and added to the lease. The next offset well is planned for early March 2011. Additional wells planned for later in 2011.