Published:
Brinx Announces Fifth Successful Well at Palmetto Point, Mississippi
Brinx Resources Ltd. (OTCBB: BNXR) (the
"Company" or "Brinx") is pleased to announce the fifth successful Well at
Palmetto Point, Mississippi. The results are positive as the well sidewall
core analysis and logs indicate two potentially productive gas zones within
the sands of the Frio Formation.
The sidewall core analysis and logs of Well -36-2 indicate two Frio Gas
zones totaling 14 feet of pay. The first zone appears from 1874 feet to
1,879 feet and the second from 2,755 feet to 2764 feet in depth. The F36-2
Well was drilled to its completed depth on July 1, 2006 and casing has been
run. The F-36-2 Well is now awaiting a completion unit.
The F-36-2 was the seventh of the ten Well program at Palmetto Point. Thus
far five of the seven wells have found natural gas zones and two of the
five have found both natural gas and oil pay zones. All five wells have
been cased and four of the wells should be selling natural gas within the
next several weeks.
Brinx has 10% gross working interest in a 10-well drilling program at
Palmetto Point. Targets are primarily but not exclusively natural gas and
the Operator has already shot and analyzed extensive areas of 3D seismic
and identified over 80 drill targets.
The Operator for the Drilling Program at Palmetto Point -- Griffin &
Griffin Exploration -- will facilitate all aspects of the program including
drilling, logging, testing, completing and equipping for production of all
ten wells. Griffin & Griffin anticipates drilling to a subsurface depth
equal to such depth as is necessary to penetrate the sands of the Frio
Formation identified as potentially productive of oil and/or gas. Griffin
has drilled, owned or operated more than 100 Frio wells in the region.
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 Noble County,
Oklahoma (40% interest); the Owl Creek Project in McClain County, Oklahoma
(50% interest); and the Palmetto Point Project in Mississippi (10%
interest). Brinx Resources is seeking to expand its portfolio to include
additional interests North America.
Leroy Halterman, President
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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