Lynden Energy (OTC Other: LVLEF; TSX-V: LVL) has drilled its first Tubb Prospect Well in West Texas to a total depth of 9,545 feet, and in late December 2011, 12 stages of fracture stimulation were carried out. In addition to several completion stages in the Wolfcamp formation, completions were also carried out in the deeper Cisco, Canyon, Strawn, Atoka and Mississippian formations.
In early January, the well was tied into production and has averaged 109 barrels of oil per day and 264 barrels of water per day in the 23 days since the well was tied-in. The well has also produced 106 mcf of gas per day in the eleven days since the measurement of gas began. Oil gravity from the Tubb A #1 is estimated to be 43 degrees API.
Initial results from the well have exceeded management’s expectations and are suggestive of the significant development potential for the relatively untested Tubb Prospect Area. Successful results in the Tubb Prospect Area could allow for the drilling of approximately 170 gross wells, at 40 acre spacing, on currently leased acreage.
