|Mon Apr 26, 1999|
Performance Update of Mount Dakota's Siverson 1-X Well
| ||The Company wishes to update shareholders on the performance of it's Siverson 1-X well which has been producing gas for sixty days into the newly built pipeline on the No Man's Field, located on the Kansas/Colorado border.|
The operator recently completed a 72 hour shut-in on the well in accordance with the laws of the State of Kansas, and confirmed that the well pressure returned close to it's original pressure before production began on February 23, 1999. Based on this new data the operator had the absolute open flow potential of this well recalculated to 45 million cubic feet per day, up from the original 43 million cubic feet per day. The gas analysis done during this 72 hour test showed 0% water in the gas, reconfirming the pre-production analysis.
Over the next few months the operator will continue to slowly increase the flow from this new well until it stabilizes. This well test flowed at over 9 million cubic feet per day on 1 ¼ inch choke. At this point in time the pressures and draw down showing at the wellhead are indicative of a stable and permeable reservoir in the underlying Morrow Sandstone formation which is feeding this well.
The company wishes to announce that the test of the Chase formation in the previously announced Daniel 14-1 well showed no significant indication of gas. The Company also wishes to announce that a drill rig is standing by to begin a new Morrow Sandstone test well, the Norris 14-2 located one mile due east of the Siverson discovery well. The recent snowstorms on the Kansas/Colorado border has delayed the start of this well over the past month, however the operator is expecting to begin drilling next week.
On behalf of the Board
S. John Kim,
The Vancouver Stock Exchange has not reviewed and does not accept responsibility for the adequacy and accuracy of the content of this press release.
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