Trophy Resources Spuds First New Well
October 16 2006 - 12:33PM
Business Wire
Trophy Resources, Inc. (Pink Sheets:TRSI) is excited to announce
the drilling rig scheduled for their Southwestern Texas prospect
arrived on time and drilling began Wednesday (Oct 11th at 5:00 PM
CDT). The drilling Permit for this well was pulled on Sept. 28,
2006, with completion expected by the end of this week. On
September 29, 2006, Trophy announced a successful re-entry of a now
productive well. The new well is located in close proximity of this
and other previously productive wells and may produce from up to
four known zones down to the Goen Reef at 4400�. �Our experts in
the field continue to expect to bring in a 30 to 50 BOE per day
well,� stated company COO Eric Leonetti. �With the completion of
this new well, we will have a two well field with plans to rework
two other wells and a second drilling project to closely follow on
this lease,� added Mr. Leonetti. During completion of the new well,
Trophy plans to move a work over rig on to the site. Two additional
wells are to be re-entered to the Goen Reef to produce that zone.
These wells were originally drilled to the Goen and DST (Drill Stem
Tested) producing 20 to 40 BOE from this zone with significant
amounts of water (in excess of 100 bbls/day). Without a cost
effective means to dispose of this fluid, the wells were plugged
just above this zone and produced all the upper zones with a much
greater cut of oil to water. These zones proved commercially
productive for several years. Now, with three injection wells
available, Trophy can produce the Goen Reef and efficiently dispose
of all the fluid produced. Trophy plans to closely follow this
first new well with a second drilling project (based on rig
availability). With all other field repairs either complete or near
completion on this location, Trophy appears primed to move at an
even more accelerated pace. This project as part of the second
Phase of R&W #1 is located in Runnel County Texas. Runnel
County Texas has produced tens of millions of barrels of oil and is
geologically situated within a trend of Pennsylvania Age productive
reservoirs comprised of limes and sands between the Bend Arch Axis
and the Fort Chadbourne fault system. This Southwest Texas prospect
encompasses multiple leases covering an area over 600 acres.
Development in the prospect is expected to continue for the next 18
to 24 months. The Company anticipates having more than twenty-five
wells on-line in this period using a combination of methods
including re-entry work, new drilling and a water flood program.
About Trophy Resources Trophy Resources, Inc. (www.trophyoil.com)
is a publicly traded company dedicated to building a diverse
portfolio of high value, low risk energy and mining projects. The
Company�s goal is to evaluate profitable options, build a solid
foundation of assets through acquisition of land and/or leases, and
explore and develop opportunities on these leases. This release
contains "forward-looking statements" within the meaning of Section
27A of the Securities Act of 1933, as amended, and Section 21E the
Securities Exchange Act of 1934, as amended and such
forward-looking statements are made pursuant to the safe harbor
provisions of the Private Securities Litigation Reform Act of 1995.
"Forward-looking statements" describe future expectations, plans,
results, or strategies and are generally preceded by words such as
"may," "future," "plan" or "planned," "will" or "should,"
"expected," "anticipates," "draft," "eventually" or "projected."
You are cautioned that such statements are subject to a multitude
of risks and uncertainties that could cause future circumstances,
events, or results to differ materially from those projected in the
forward-looking statements, including the risks that actual results
may differ materially from those projected in the forward-looking
statements as a result of various factors, and other risks. Trophy
Resources, Inc. is an exploration with limited experience in the
oil and gas industry. At the time of this release Trophy Resources
lacks the financial capabilities to meet its financial obligations
and its management expects to dilute the company's shares to raise
the necessary operating capital. Based upon industry standards
Trophy would be considered highly speculative and lacks any
competitive advantage over its competition. Additional risks you
should consider, this list is limited and additional risk not
mentioned may apply: failure to meet Trophy's financial and
contractual obligations, Trophy's managerial errors made based upon
the Company's limited experience and knowledge of the industry,
commodity risk, acts of God and regulatory risk. You should
consider these factors in evaluating the forward-looking statements
included herein, and not place undue reliance on such statements.
Trophy Resources, Inc. (Pink Sheets:TRSI) is excited to announce
the drilling rig scheduled for their Southwestern Texas prospect
arrived on time and drilling began Wednesday (Oct 11th at 5:00 PM
CDT). The drilling Permit for this well was pulled on Sept. 28,
2006, with completion expected by the end of this week. On
September 29, 2006, Trophy announced a successful re-entry of a now
productive well. The new well is located in close proximity of this
and other previously productive wells and may produce from up to
four known zones down to the Goen Reef at 4400'. "Our experts in
the field continue to expect to bring in a 30 to 50 BOE per day
well," stated company COO Eric Leonetti. "With the completion of
this new well, we will have a two well field with plans to rework
two other wells and a second drilling project to closely follow on
this lease," added Mr. Leonetti. During completion of the new well,
Trophy plans to move a work over rig on to the site. Two additional
wells are to be re-entered to the Goen Reef to produce that zone.
These wells were originally drilled to the Goen and DST (Drill Stem
Tested) producing 20 to 40 BOE from this zone with significant
amounts of water (in excess of 100 bbls/day). Without a cost
effective means to dispose of this fluid, the wells were plugged
just above this zone and produced all the upper zones with a much
greater cut of oil to water. These zones proved commercially
productive for several years. Now, with three injection wells
available, Trophy can produce the Goen Reef and efficiently dispose
of all the fluid produced. Trophy plans to closely follow this
first new well with a second drilling project (based on rig
availability). With all other field repairs either complete or near
completion on this location, Trophy appears primed to move at an
even more accelerated pace. This project as part of the second
Phase of R&W #1 is located in Runnel County Texas. Runnel
County Texas has produced tens of millions of barrels of oil and is
geologically situated within a trend of Pennsylvania Age productive
reservoirs comprised of limes and sands between the Bend Arch Axis
and the Fort Chadbourne fault system. This Southwest Texas prospect
encompasses multiple leases covering an area over 600 acres.
Development in the prospect is expected to continue for the next 18
to 24 months. The Company anticipates having more than twenty-five
wells on-line in this period using a combination of methods
including re-entry work, new drilling and a water flood program.
About Trophy Resources Trophy Resources, Inc. (www.trophyoil.com)
is a publicly traded company dedicated to building a diverse
portfolio of high value, low risk energy and mining projects. The
Company's goal is to evaluate profitable options, build a solid
foundation of assets through acquisition of land and/or leases, and
explore and develop opportunities on these leases. This release
contains "forward-looking statements" within the meaning of Section
27A of the Securities Act of 1933, as amended, and Section 21E the
Securities Exchange Act of 1934, as amended and such
forward-looking statements are made pursuant to the safe harbor
provisions of the Private Securities Litigation Reform Act of 1995.
"Forward-looking statements" describe future expectations, plans,
results, or strategies and are generally preceded by words such as
"may," "future," "plan" or "planned," "will" or "should,"
"expected," "anticipates," "draft," "eventually" or "projected."
You are cautioned that such statements are subject to a multitude
of risks and uncertainties that could cause future circumstances,
events, or results to differ materially from those projected in the
forward-looking statements, including the risks that actual results
may differ materially from those projected in the forward-looking
statements as a result of various factors, and other risks. Trophy
Resources, Inc. is an exploration with limited experience in the
oil and gas industry. At the time of this release Trophy Resources
lacks the financial capabilities to meet its financial obligations
and its management expects to dilute the company's shares to raise
the necessary operating capital. Based upon industry standards
Trophy would be considered highly speculative and lacks any
competitive advantage over its competition. Additional risks you
should consider, this list is limited and additional risk not
mentioned may apply: failure to meet Trophy's financial and
contractual obligations, Trophy's managerial errors made based upon
the Company's limited experience and knowledge of the industry,
commodity risk, acts of God and regulatory risk. You should
consider these factors in evaluating the forward-looking statements
included herein, and not place undue reliance on such statements.
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