Wednesday, April 29, 2009

Cubic/Chesapeake Well Announcement

Cubic Energy blitzed the airwaves with the announcement hat another of its minority owned wells wells that is operated by Chesapeake Energy hit.

From the announcement: "The Clingman Acres 11H well was tested by the state to be flowing at a rate of 17,040 Mcf/day, on a 24/64 inch choke, with 6,170 pounds of flowing pressure, from the Haynesville Shale formation. A 10 stage fracture stimulation completion technique was performed on this well. This well was completed in February 2009; however, pursuant to a confidentiality agreement with Chesapeake, Cubic is precluded from releasing any flow information until a state test has been filed of record."

The well is located in Section 11, Township 15N, Range 15W in the Caspiana Field in Caddo Parish, Louisiana, which is contiguous to the east side of Cubic's Johnson Branch acreage. Cubic has an estimated 2.8% working interest in the well.

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