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Delivered Belize equipment????? I hear it is in

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Post# of 39368

Posted On: 12/19/2012 11:06:38 PM

Posted By: DTL

Re: Steede #4776

Delivered Belize equipment????? I hear it is in transit but that equipment should be for the Stann Creek area. I'm not sure how they can claim drilling one of these wells in the 4th quarter if the equipment isn't scheduled to arrive until the week of Xmas. I thought someone mentioned that drilling teams shut down for two weeks during the holiday season? My thoughts are nothing gets started on the Stann Creek wells until mid-January. I'm more interested in the latest as of today on SJ 1 &2 since the 12/11 PR as stated below. How long would have these wells taken BNE during their peak drilling years?

San Juan # 2 well was perf'ed in a 10-foot section between 1197 FT-1207 FT in order to test the Top of the Cretaceous Lime. We swabbed on the 1200 feet zone and got gas and traces of oil. We expect to continue swabbing sometime this weekend and if all goes well, begin work on installing pump jack and temporary storage and flow lines. We plan to pump the well into a temporary storage tank for a few days to determine the daily production rates.

San Juan no 1: San Juan # 1 well was perf'ed in a 10-foot section between 1222 FT-1232 FT in order to test the Top of the Cretaceous Lime. Initial Swabbing of San Juan #1 indicates limited fluid entry and will need to be acidized. We are reviewing the best ways to accomplish this with or engineers and technical staff in order to determine an action plan going forward.

From 3rd Q filing which is old news by now:

Belize:

The San Juan #1 and #2 wells have been drilled to total depths of 2240 ft. and 1293 ft. Completion Operations are currently underway and once finalized the wells will be flow tested and placed on production. Treaty is in the process of permitting two additional wells in the Stann Creek area, one of these wells is scheduled to be drilled in the fourth quarter with the second well to follow in the first quarter. Lessons learned on the #1 and #2 wells should allow Treaty to drill and complete these next two wells more efficiently.