Published:
Brinx Resources Commences Drilling on the Powell #2
Brinx Resources Ltd. (OTC BB: BNXR) ("the
Company") is pleased to announce the commencement of drilling on the Powell
#2 well. Brinx is now taking the next step in developing this field by
drilling the first offset development well to the Powell #1. Drilling of
the second well -- the Powell #2 -- started on May 1, 2006.
As announced on February 8, Brinx has successfully completed the Powell #1
well at its 70% owned Owl Creek property in Okalahoma. This well has been
producing and selling oil and gas for over three months and can now being
classified as a new discovery in the Trenton zone of the Viola Formation. A
second potential pay zone in this well -- the Upper Viola -- is still
behind pipe and will be tested at a latter date.
Brinx Resources holds a 70% working interest in the 1100 acres in the Owl
Creek Prospect. This prospect has the potential for 12 additional wells on
80-acre spacing or even up to 25 additional wells if on 40-acre spacing. In
addition to the Trenton zone of the Viola, other wells in the immediate
vicinity have had oil and gas shows in the upper Viola, Hunton, Hart, and
Gibson zones. Additional drilling will help further define the project
potential in these other pay zones.
About Brinx Resources
Brinx Resources is an expanding exploration company focused on developing
North American oil and natural gas reserves. The Company's current focus is
on the continued exploration and development of its land portfolio
comprised of working interests in the Three Sand Project in McClain County,
Oklahoma (70% interest), the Owl Creek Project in Noble County, Oklahoma
(40% interest), and its newest interest in its Mississippi Prospect in
Palmetto Point (10% interest). Brinx Resources is seeking to expand its
portfolio to include additional interests North America.
Leroy Halterman, President
For more information please visit WWW.BRINXRESOURCES.COM or contact 250
Media at 1-888-32-BRINX (27469).
The Company has no official gas or oil reserves at this time and may not
have sufficient funding to thoroughly explore, drill or develop its
properties. Statements which are not historical facts are forward-looking
statements. The Company makes forward-looking public statements concerning
its expected future operations, performance and other developments. Such
forward-looking statements are necessarily estimates reflecting the
Company's best judgment based upon current information and involve a number
of risks and uncertainties, and there can be no assurance that other
factors will not affect the accuracy of such forward-looking statements. It
is impossible to identify all such factors but they include and are not
limited to the existence of underground deposits of commercial quantities
of oil and gas; cessation or delays in exploration because of mechanical,
operating, financial or other problems; capital expenditures that are
higher than anticipated; or exploration opportunities being fewer than
currently anticipated. Factors which could cause actual results to differ
materially from those estimated by the Company include, but are not limited
to, government regulation, managing and maintaining growth, the effect of
adverse publicity, litigation, competition and other factors which may be
identified from time to time in the Company's public announcements and
filings.
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Tags: ,Energy and Utilities:OilandGas, ,NM,ALBUQUERQUE, NM
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