Radial Drilling Reservoir

Team Resources Inc Plans Further Development of Their Acreage Holdings

(PRWEB) June 18, 2011

Kevin Boyles CEO of Team Resources Boyles has announced that, “After the positive drilling, testing and witnessing a strong oil presence in the Team Gammon 20-1A well in the Donelson West Field located in Cowley County, Kansas, Team Resources Inc plans further development here of their acreage holdings. One well is currently being drilled, four additional new wells slated for development in the fourth quarter 2011 and four new wells planned for the first quarter of 2012. Team is in the midst of completing the Team Oil Income & Development Fund which proposed the drilling of two new wells and recompletion of eight existing wells for a total of ten wells associated in this fund. Team is implementing Radial Jet Horizontal Technology in the existing and new wells in an effort to extract the oil reserves left behind during the primary production recovery efforts used when the field was initially discovered in 1967. Although this small but mighty 1,200 acre field produced nearly 450,000 BO, it was estimated that the original wells, in a traditional primary oil recovery effort was only able to recovered approximately 20% of the oil in place. Team feels that with the recompletion of the existing wells, the drilling of new wells and using the Radial Jet Horizontal Technology that it will be able to successfully tap far into this reservoir and extract the bulk of these remaining oil reserves.”

Kansas has remained constant in oil production, with an average monthly rate of about 2.8 million barrels (450,000 m3) in 2004. The recent higher prices have made carbon dioxide sequestration and other oil recovery methods increasingly more economical. There are currently 40,850 oil wells in Kansas and 18,639 natural gas wells. Kansas ranks 8th in U.S. oil production, rendering it a lucrative source for domestic energy.

Team Resources, Inc., headquartered in Ventura, California, is an oil and natural gas operating company founded in 2002 by President & CEO Kevin Boyles. Team's current development acreage is located in S.E. Kansas, with field offices located in Yates Center and Burden, Kansas. Team Resources, Inc owns 50% of BC Management Services Corp. (Team's Kansas Production, Operating and Service Company). BCMSC is a "hands on" company presently operating more than 40 wells and Team's 300+ mile natural gas transmission pipeline, thus ensuring delivery of natural gas to market for Team and other area oil / gas producers. BCMSC maintains Team's properties by owning a completion rig, dozers, trenchers and gravel / water trucks that provide the ability to build infrastructures. Team offers the opportunity to speak directly with the owner of the company, we also invite our investing partners to meet us out on location and experience a personal “field trip”.

Tethys Petroleum provides operational update for Kazakhstan ...

Kazakhstan

3D seismic survey interpretation complete around Doris oil discovery. Drilling operations commenced on AKD04 and AKD05 will spud imminently, these are the first appraisal wells of the Doris oil discovery to be drilled based on the new 3D seismic. AKD03 (Dione) exploration well comprehensive testing program commenced in March 2011. KBD01 (Kalypso) exploration well re-commenced drilling in February 2011 upon arrival of the Telesto rig. AKD02 and G6RE to be tested with radial drilling technology. Joint-venture signed to construct oil rail loading terminal. Stage 2 oil production facilities currently being installed with 3,000 to 4,000 bopd target end June 2011.

Tajikistan

690 km seismic data acquisition complete. Aerial magnetic and gravity survey to commence imminently. Testing of the KOM201 continues using radial drilling with results expected in Q2 2011. East Olimtoi exploration well EOL09 drilling to re-commence imminently with target depth planned for end Q2 2011. New exploration well planned.

Uzbekistan

NUR96 well tested at over 1,100 bopd. Jet pumping unit being mobilised to optimise production with results expected Q2 2011.

Kazakhstan

is continuing. In November 2010, both the 3D and 2D seismic acquisition programs on the Doris oil discovery and surrounding exploration area had been completed and first data has been interpreted. As well as providing more detailed information on the discovered field, the seismic program has identified several new exploration targets at various depths in the vicinity.

The AKD04 exploration / appraisal well has commenced drilling and is located to the east of the Doris crest in order to test the likely continuation of the structure in that area, and AKD05, which will spud within the next two weeks, is being drilled immediately up-dip of the AKD01 well with both wells targeting the lower Cretaceous Aptian sandstones and Jurassic carbonates that were successfully tested in AKD01, as well as a possible third, overlying, Albian sandstone horizon.

The AKD03 (Dione) exploration well, which is located approx. 10 km to the southwest of the AKD01 Doris discovery well (on a separate prospect), reached its targeted depth at 3,975 m in January 2011. A comprehensive testing programme commenced in late February 2011 following receipt of necessary approvals from the Kazakh State. A sandstone interval within the upper part of the Jurassic, which was not present in AKD01, had good oil indications while drilling and will be tested in the short term. The overlying Jurassic carbonate zone (which is similar to AKD01 but may have lower reservoir quality) is over 20 m in thickness and which had hydrocarbon indications while drilling and on the wireline logs will then be tested. A further potential oil bearing zone has been identified in good quality Cretaceous, Albian age sandstones, these appearing similar in quality to the reservoir in the Doris discovery well and testing of this zone will follow. Results of the testing programme are expected at the end of April 2011.