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MENAFN - ProactiveInvestors - Australia - 08/10/2012

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(MENAFN - ProactiveInvestors - Australia) Sun Resources (ASX: SUR) and its partners are preparing to fracture stimulate their first Richland Oil Project well and have spudded the third and final well in the current drilling program.

The Beeler-1H well in Texas' Leon County, Sun's first Woodbine horizontal well, is due to start this week, is due to undergo a multi-stage frac of about 31 stages ahead of completing the well for production.

It is expected to be fracced and completed by late October 2012.

Operator Richland Resources Corporation has also spudded the third well, Ellis-1H, on 7 October.

Ellis-1H is located to the west of both Beeler-1H and the second well, John Beeler-1H, and is expected to be drilled, fracced and completed by the end of November.

The partners are also drilling the horizontal section of the John Beeler-1H well, which is in the same Woodbine A Formation as in Beeler-1H.

John Beeler-1H, which is located about 2,000 feet west of Beeler-1H, is expected to be drilled, fracture stimulated and completed by mid-November 2012.

Sun has a 13.5417% working interest (10.1563% net revenue interest) in Beeler-1H and 16.67% working interest (12.5% NRI) in John Beeler-1H and Ellis-1H.

 






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