Published: October 30, 2007
Brinx Resources Ltd. -- Oil Production and Drilling Updates in Mississippi and Oklahoma
Brinx Resources Ltd., (OTCBB: BNXR) (the
"Company" or "Brinx") announces on its Mississippi project the drilling of
the PP F-12 #3 well has reached total depth and has been logged. Production
casing is being set in anticipation of oil production. Completion
operations including a flow test will be conducted as soon as possible and
results reported at that time.
The original discovery well in the Belmont Lake oil field, the PP F-12, is
producing oil at an increased rate of flow as compared to its original
production test. The well is producing on an 11/64th choke, currently at
the rate of slightly more than 115 barrels per day. This compares to the
original flow test rate, which was approximately 100 BO/D, on a 12/64th
choke.
Brinx, in conjunction with its partners, has decided to examine the
expected future production data from the PP F-12 #3 well prior to making a
final decision on the timing and specific location of the next well or
wells to be drilled into this Belmont Lake oil field.
In Oklahoma, Brinx and its partners has begun drilling new oil development
well at Owl Creek. The new well is named the Powell #3 well and will target
the same zones as the successful Powell #2 (Brinx holds a 50% working
interest in the Powell #2 well and a 36.5% interest in the Powell #3 Well).
The Powell #2 has been producing oil since June, 2006 and has produced over
60,000 barrels of oil and is still producing over 110 BOE/D. Information
regarding the status of the Powell #3 well will be provided as it becomes
available.
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
(36.5 to 70% interest); and the Palmetto Point Project in Mississippi (8 to
8.5% interest). Brinx Resources is seeking to further develop its existing
project through development or offset drilling and 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.
Brinx Resources, Ltd.
820 Piedra Vista Road NE, Albuquerque, NM 87123-1954
Corporate Office: 505.291.0158 ~ Fax: 505.291.0158
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