Hillcrests 100% Owned Nadsoil Brown #1 Flows Oil To Surface - ABC 33/40 - Birmingham News, Weather, Sports

Hillcrests 100% Owned Nadsoil Brown #1 Flows Oil To Surface

Posted: Updated:

VANCOUVER, B.C. / ACCESSWIRE / March 24, 2014 / Hillcrest Resources Ltd. (the “Company” or Hillcrest”) (TSX.V : HRH) is pleased to announce that the Nadsoil Brown #1 well, located in Newton County, Texas, has been drilled to a total depth of 7,504 feet and has been completed as a potential oil producer. Hillcrest has a 100% working interest in this well.

Drilling operations on the Brown #1 well commenced on 22nd February, 2014 and reached the planned total depth of 7,504 feet on 5th March, 2014. Interpretation of wireline logs, and sidewall cores recovered from the well-bore, indicated the presence of a significant oil column. Preliminary analysis of these data suggest a gross pay interval of approximately 110 feet, with net pay of approximately 32 feet (29% net to gross ratio). Sidewall core interpretation indicates excellent reservoir properties with total porosity between 24-33% and an average of approximately 28% and permeability generally within a range of 55-800 mD with an average in excess of 200 mD.

An initial production test is currently underway. A 2.5 foot interval located near the base of the interpreted oil column has been perforated. After unloading the drilling fluids, the well commenced flowing oil to surface at a rate of approximately 44 barrels of oil per day (bopd) with an API gravity of 42 degrees, 100,000 cubic feet of gas per day (mcfgpd) on a 8/64″ choke along with approximately 40 barrels of water per day. Over the coming days, various choke sizes will be tested to determine the optimum production rate for this well.

“Hillcrest is very pleased with the results of the Brown #1 well” states Don Currie, the Company’s CEO and Chairman. “The initial production test from the well is very encouraging, particularly as the perforated interval is located near the base of the interpreted oil column. More of the pay zone will be perforated over time with the objective of increasing the daily flow rate. Flow rates such as these, and the fact Hillcrest has a 100% working interest, makes this latest well a significant contributor to our monthly revenues and reserve base.”

For more information on Hillcrest Resources Ltd, contact Donald Currie toll free at 1-866-609-0006 or visit the Company’s website at www.hillcrestresources.com

On behalf of the Board of Directors

Donald Currie

Chairman, Chief Executive Officer and Director

FORWARD LOOKING STATEMENT HERE

Cautionary Statement Regarding “Forward-Looking” Information

Some of the statements contained in this press release are forward-looking statements and information within the meaning of applicable securities laws. Forward-looking statements and information can be identified by the use of words such as “expects”, “intends”, “is expected”, “potential”, “suggests” or variations of such words or phrases, or statements that certain actions, events or results “may”, “could”, “should”, “would”, “might” or “will” be taken, occur or be achieved. Forward-looking statements and information are not historical facts and are subject to a number of risks and uncertainties beyond the Company’s control. Actual results and developments are likely to differ, and may differ materially, from those expressed or implied by the forward-looking statements contained in this news release. Accordingly, readers should not place undue reliance on forward-looking statements. The Company undertakes no obligation to update publicly or otherwise revise any forward-looking statements, except as may be required by law.

Neither TSX Venture Exchange nor its Regulations Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

NOT FOR U.S. DISTRIBUTION

 

SOURCE: Hillcrest Resources Ltd.

ReleaseID: 413413

  • Latest StoriesMore>>

  • Social media helps Homewood bakery find missing truck in under an hour

    Social media helps Homewood bakery find missing truck in under an hour

    Sunday, July 27 2014 10:33 PM EDT2014-07-28 02:33:35 GMT
    A Homewood bakery got its missing truck back less than one hour after asking for help on social media. Two people saw the plea for help on social media and spotted it on their way home from a Barons game.More >>
    A Homewood bakery got its missing truck back less than one hour after asking for help on social media. Two people saw the plea for help on social media and spotted it on their way home from a Barons game.More >>
  • Nationwide manhunt for Ozark man accused of kidnapping, sexual assault

    Nationwide manhunt for Ozark man accused of kidnapping, sexual assault

    Sunday, July 27 2014 10:00 PM EDT2014-07-28 02:00:39 GMT
    David PittsDavid Pitts
    A 30 year old woman and 8 year old child are receiving medical treatment after they were kidnapped and sexually assaulted. A nationwide manhunt is now underway for the suspect.More >>
    A 30 year old woman and 8 year old child are receiving medical treatment after they were kidnapped and sexually assaulted. A nationwide manhunt is now underway for the suspect.More >>
  • Attorney "getting conflicting stories about absentee ballots" in contested JeffCo race

    Attorney "getting conflicting stories about absentee ballots" in contested JeffCo race

    Sunday, July 27 2014 7:08 PM EDT2014-07-27 23:08:43 GMT
    Jefferson County Commissioner Sandra Little Brown is expected to address the challenge to the District Two election results Monday. The contest was filed by one of her opponent's supporters. ABC 33/40 spoke with the attorney representing that supporter.More >>
    Jefferson County Commissioner Sandra Little Brown is expected to address the challenge to the District Two election results Monday. The contest was filed by one of her opponent's supporters. ABC 33/40 spoke with the attorney representing that supporter.More >>
  • Woman doused with gasoline and burned by ex-boyfriend

    Woman doused with gasoline and burned by ex-boyfriend

    Sunday, July 27 2014 5:04 PM EDT2014-07-27 21:04:38 GMT
    The Jefferson County Sheriff's department is looking for 48 year old Michael Kennedy. He's wanted on several charges after allegedly setting his ex-girlfriend on fire. Just after 2:30 this morning deputies respond to a report of a house fire in the 4400 block of Nellie Anderson Street. They arrived to find a 49 year old female victim with extensive burns to her head, arms, upper body and legs. She was transported to the hospital and admitted to a burn unit in serious condition. Investigators...More >>
    The Jefferson County Sheriff's department is looking for 48 year old Michael Kennedy. He's wanted on several charges after allegedly setting his ex-girlfriend on fire. Just after 2:30 this morning deputies respond to a report of a house fire in the 4400 block of Nellie Anderson Street. They arrived to find a 49 year old female victim with extensive burns to her head, arms, upper body and legs. She was transported to the hospital and admitted to a burn unit in serious condition. Investigators...More >>
  • A triple shooting leaves one person dead

    A triple shooting leaves one person dead

    Sunday, July 27 2014 11:51 AM EDT2014-07-27 15:51:55 GMT
    One person is dead and two others in juried in an early morning shooting in Ensley. Birmingham Police report incident occurred in the 1600 Block of Avenue I. Around 2:30 a.m. police were called to the location and found the victim lying face down in the street suffering from a gunshot wound to the back. Birmingham Fire and Rescue also responded to the scene and pronounced the victim deceased at the scene. The name of the victim has not yet been released pending notification of relatives. Ther...More >>
    One person is dead and two others in juried in an early morning shooting in Ensley. Birmingham Police report incident occurred in the 1600 Block of Avenue I. Around 2:30 a.m. police were called to the location and found the victim lying face down in the street suffering from a gunshot wound to the back. Birmingham Fire and Rescue also responded to the scene and pronounced the victim deceased at the scene. The name of the victim has not yet been released pending notification of relatives. Ther...More >>
  • Judge Rules Benz Plant Violated Labor Laws

    Judge Rules Benz Plant Violated Labor Laws

    Saturday, July 26 2014 11:29 PM EDT2014-07-27 03:29:07 GMT
    A judge has ruled Mercedes-Benz U.S. International violated labor laws while dealing with employees interested in forming a labor union.An administrative law judge for the National Labor Relations Board ordered MBUSI to revise rules in its employee handbook governing the solicitation and distribution of materials at its auto manufacturing plant in Vance.The United Auto Workers accused Mercedes managers of stymieing pro-union employees' efforts to distribute information about the union.Mercede...More >>
    A judge has ruled Mercedes-Benz U.S. International violated labor laws while dealing with employees interested in forming a labor union.An administrative law judge for the National Labor Relations Board ordered MBUSI to revise rules in its employee handbook governing the solicitation and distribution of materials at its auto manufacturing plant in Vance.The United Auto Workers accused Mercedes managers of stymieing pro-union employees' efforts to distribute information about the union.Mercede...More >>
  • Glen Allen man killed in accident involving logging truck

    Glen Allen man killed in accident involving logging truck

    Saturday, July 26 2014 6:17 PM EDT2014-07-26 22:17:25 GMT
    Alabama State Troopers say a 63 year old man from Glen Allen was killed in a two vehicle crash in Fayette County. It happened Friday night on County Road 73.More >>
    Alabama State Troopers say a 63 year old man from Glen Allen was killed in a two vehicle crash in Fayette County. It happened Friday night on County Road 73.More >>
  • Shooting victim's wife and sons want answers concerning homicide investigation

    Shooting victim's wife and sons want answers concerning homicide investigation

    Saturday, July 26 2014 6:11 PM EDT2014-07-26 22:11:45 GMT
    Family members grieve the loss of a 37-year-old man shot dead. Birmingham police are investigating. A family is asking questions as police hear conflicting stories.More >>
    Family members grieve the loss of a 37-year-old man shot dead. Birmingham police are investigating. A family is asking questions as police hear conflicting stories.
    More >>