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Mannon L. Walters Announces Completion of Well in Lapeyrouse Field

The Indiana-based exploration and production company, with offices in Indiana, Texas and Oklahoma, began drilling the Darsey et al No. 1 in the Lapeyrouse Field in February 2010 and the well was production tested and placed on production in April 2010. Flow tests were conducted on the initial well by an independent testing firm.

The results verify production of approximately 98 barrels of oil per day and 80,000 cubic feet of gas per day on a 11/64" choke with flowing tubing pressure of 600 pounds per square inch and shut-in bottom hole pressure of 3,380 pounds per square inch from perforations 8,010 to 8,012 feet measured depth.

The well was drilled as a reentry of a P&A'd well and was drilled directionally in order to develop attic oil reserves and to test additional deeper and shallower sands on the upthrown side of a major fault. The geology was based on both production history and 3-D seismic.

The well identified 11 different pay zones, at least 3 of which had never been produced in the Lapeyrouse Field, along with other zones new to this fault block. Additional shallow potential was identified warranting further evaluation.

Future development plans call for additional wells to develop updip PUD reserves, to develop the eastern portion of the structure, and to further evaluate new deep and shallow potential. Plans are also underway to expand the company's presence in other parts of the Lapeyrouse Field and South Louisiana. MWI is currently in the process of permitting 2 offset wells to the Darsey et al No. 1 and has recently acquired the Lirette No. 1 well located 1.8 miles north of the Darsey with plans to drill deeper.

The Lapeyrouse Field was first drilled in the 1950's and has produced over 14 million barrels of oil and 600 billion cubic feet of gas.

Mannon L. Walters, Inc.
Mannon Walters, 888-234-5596