NEWS RELEASE 18th JULY 2013
Activa Resources AG: successful fifth horizontal well at OSR-Halliday goes
on production
- 5th OSR-Halliday horizontal well on production at 600 BOED
- Field development programme set to continue in coming months
Bad Homburg, 18th July 2013.
Activa Resources AG, an independent oil and
gas producer with operational knowhow in the development and efficient
exploitation of oil and natural gas properties, provides initial details of
its latest horizontal well to go on production at its main oil and natural
gas project OSR-Halliday Unit in East Texas.
The 5th horizontal well (105-5H), which spudded on 3rd April 2013, has been
on production since June and is now consistently producing 600 BOED,
thereby fully meeting the company's expectations. This comprises 80% oil
and 20% natural gas and natural gas liquids. The well is located in the
southern section of the field.
Activa's CEO Leigh A. Hooper adds: 'This is another excellent result -
especially considering the fact that the horizontal section of this well is
approx. 1,000 feet shorter than its predecessor (96-4H). We have now put 5
horizontal wells in a row on production. All wells are producing.'
Development of the OSR-Halliday field is set to continue with the 6th well
likely to spud in the coming months.
Activa's technical team, which leads the G&G work at OSR-Halliday,
presented a revised 56 well drilling plan (previously 50) for the field at
a recent partners meeting in Dallas. Activa continues to estimate 350,000
to 450,000 BOE per well and therefore total primary recoverable reserves in
the field exceeding 19.6 million BOE. All partners are committed to further
development of the field.
The Management Board
About
Activa Resources AGActiva Resources AG is an independent oil and gas company which focuses on
the acquisition, development and exploitation of oil and natural gas
properties.
Activa Resources AG is listed on the Frankfurt stock exchange
and is based in Bad Homburg, Germany. The company's management and
technical team comprise oil industry experts with many years operational
experience at major international oil companies. Further information can be
found at www.activaresources.com.
Forward-looking statements
This news release includes forward-looking statements. Forward-looking
statements include, but are not limited to, statements concerning estimates
of expected drilling and development wells and associated costs, statements
relating to estimates of, and increases in, production, cash flows and
values and other statements which are not historical facts. When used in
this document, the words such as 'could,' 'plan,' 'estimate', 'expect',
'intend', 'may', 'potential', 'should' and similar expressions are
forward-looking statements. Although Activa believes that its expectations
reflected in these forward-looking statements are reasonable, such
statements involve risks and uncertainties and no assurance can be given
that actual results will be consistent with these forward-looking
statements. Important factors that could cause actual results to differ
from these forward-looking statements include the potential that the
Company's projects will experience technological and mechanical problems,
that geological conditions in the reservoir may not result in commercial
levels of oil and gas production, that changes in product prices can have a
material impact and that Activa fails to raise sufficient capital to
adequately fund its activities.
Company contact:
Activa Resources AG Hessenring 107
61348 Bad Homburg
www.activaresources.com Telefon: +49 (0)6172-483 2352
FAX: +49 (0)6172-483 2353
lah@activaresources.com
Investor Relations contact:
GFEI Aktiengesellschaft
Am Hauptbahnhof 6
60329 Frankfurt
www.gfei.deTelefon: +49 (0)69-7430 3700
FAX: +49 (0)69-7430 3722
activa-resources@gfei.de
End of Corporate News
Unternehmen:
Activa Resources AG - ISIN: DE0007471377
