Blast Energy Services Successfully Tests Casing Perforation Technology at RMOTC
November 21 2006 - 5:12PM
PR Newswire (US)
CASPER, Wyo., Nov. 21 /PRNewswire-FirstCall/ -- The Rocky Mountain
Oilfield Testing Center (RMOTC) and Blast Energy Services Inc.
(OTC:BESV) (BULLETIN BOARD: BESV) have finished a project testing
Blast's proprietary abrasive fluid jetting technology designed to
cut holes, slots and windows in existing well casing. "We achieved
about 80 percent of the testing planned before the Wyoming winter
weather season caused us to suspend operations," said David Adams,
Blast President and Co-CEO. Blast's prototype unit, primarily a
modified coil tubing unit with an abrasive mixing module, combines
water and fine abrasive sand and pumps this mixture through a
nozzle at up to 17,500 pounds per square inch. With this new
technology, Blast expects to provide oil and gas producers with an
alternative to existing well stimulation services at a lower cost,
while having the ability to access previously uneconomical
reserves. "I am extremely pleased with the test of the abrasive
cutting tool and am looking forward to additional testing at our
facility next spring," said Matt Slezak, RMOTC project manager.
Down-hole video cameras, available at RMOTC, proved especially
useful in this project. The camera's primary use was to verify the
results of operations in the down hole environment and to diagnose
any problems that may occur. In this case, the camera verified that
Blast's new technology was able to cut holes, slots and windows in
the well casing and confirmed further penetration into the rock
formations beyond the well casing. Management believes that the act
of cutting through the casing also blasts two to three feet of
cavity into the rock formation beyond the well casing and
facilitates hydrocarbon recovery. In one particular video, oil can
be seen flowing into the well bore through a slotted hole that was
cut into the well casing. Video clips from the down-hole camera
have been posted to the Company's website. The tests, however, were
not able to achieve any success in making secondary lateral
intrusions into the rock formation with the use of a flexible hose.
The onset of winter at the facility has caused the company to bring
the AFJ unit back to Texas at this time. "The use of the down hole
camera was an invaluable resource for this stage of our
development," said Adams. "We were able to visually validate the
technical success of the AFJ technology and verify that the surface
program was exactly synchronized with the actual down-hole nozzle
position deep in the wellbore." Blast, based in Houston, signed a
Cooperative Research and Development Agreement with the U.S.
Department of Energy in October. This agreement provided for Blast
to test in up to five wells to evaluate its new technology. The
parties plan to continue this project at the RMOTC site in the
spring of 2007. RMOTC is provided by the Department of Energy as a
field test site for emerging and developing technologies to address
critical energy industry issues. The field test site is a
10,000-acre operating oil field offering a full complement of
associated facilities and equipment on site. There are
approximately 1,200 well bores and approximately 600 producing
wells, in nine producing reservoirs ranging in depth from 500 to
5,000 feet. About Blast Energy Services, Inc. Blast Energy
Services, Inc. is a publicly traded company based in Houston. Our
mission is to substantially improve the economics of existing oil
and gas operations through the application of our worldwide
licensed and proprietary technologies. Our new major business,
effective August 2006, is conventional land rig drilling onshore
USA with its own fleet of drill rigs and crews. Using specially
fabricated mobile drilling rigs we intend to operate a commercially
viable energy service business, including: specialty casing
cutting, perforation, fracturing services and lateral drilling with
the potential to penetrate through well casing and into reservoir
formations to stimulate oil and gas production. This service should
provide oil and gas producers with an attractive, lower cost
alternative to existing well stimulation or horizontal drilling
services. Additionally, we are providing satellite services to oil
and gas producers. This service allows them to monitor and control
well head, pipeline or drilling operations through low- cost
broadband data and voice services from remote operations where
conventional land based communication networks do not exist or are
too costly to install. Please visit our website:
http://www.blastenergyservices.com/ . Safe Harbor Statement Any
statements made in this news release other than those of historical
fact, about an action, event or development, are forward looking
statements. Forward looking statements involve known and unknown
risks and uncertainties, which may cause the Company's actual
results in future periods to be materially different from any
future performance that may be suggested in this release. Such
factors may include risk factors including but not limited to: the
ability to integrate and successfully operate the newly acquired
company, the ability to raise necessary capital to fund growth,
adequate liquidity to manage operations and debt obligations, the
introduction of new services, commercial acceptance and viability
of new services, fluctuations in customer demand and commitments,
pricing and competition, reliance upon lenders, contractors and
vendors, the ability of Blast Energy Services' customers to pay for
our services, together with such other risk factors as may be
included in the Company's filings on Form SB-2 and its periodic
filings on Form 10-KSB, 10-QSB, and other current reports.
DATASOURCE: Blast Energy Services Inc. CONTACT: John MacDonald of
Blast Energy Services, Inc., +1-281-453-2888, or +1-713-725-9244,
or ; or Doug Tunison of Rocky Mountain Oilfield Testing Center,
+1-307-233-4836, or fax, +1-307-233-4851, or Web site:
http://www.blastenergyservices.com/ http://www.rmotc.com/
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