Brinx Resources Provides Oklahoma-2013 Project Drilling Update
26 March 2014 - 7:45PM
Marketwired
Brinx Resources Provides Oklahoma-2013 Project Drilling Update
DENVER, CO--(Marketwired - Mar 26, 2014) - Brinx Resources Ltd.
(OTCQB: BNXR) ("Brinx Resources" or "Brinx" or the "Company")
announced today that it received notice from the Oklahoma-2013
project operator that drilling and testing of the 5th well of the
Phase-1 exploration program has been completed. Subsequently,
it was determined that the well did not encounter commercial
quantities of oil or gas. As a result, well #5 will be plugged
and abandoned.
As with previously exploration wells in Phase-1 of this ongoing
program, the OK-13-5 exploration well target multiple potential
hydrocarbon pay zones thought to be productive in the
area. The OK-13-5 well reached a total depth of 7,759 feet on
March 19, 2014. Testing conducted on the well, included mud
logging with full spectrum chromatography and a complete suite of
open hole logs. Finally, a well site geologist with over 30
years of experience was examined all drill cuttings from 4,300' to
total depth. Based upon the total evaluation of all geological
data and electric log analysis, the project operator recommends the
OK-13-5 well be plugged and abandoned.
The Oklahoma-2013 project is a multi-phase multi-well
exploration drill program currently being conducted by Brinx
Resources and it partners. Phase-1 of the Oklahoma-2013 drill
program consists of eight (8) wells targeting the first selections
from at least 34 high-graded prospects generated by the
partnership's proprietary 3D seismic database that covers the
entire 83,043 acres or 130 square miles project area. Of the
five wells drilled to date at the Oklahoma-2013, one well is
currently in production with four wells plugged and
abandoned. Drilling at the multi-phase Oklahoma-2013 project
is expected to continue through 2014.
About Brinx Resources
Brinx Resources is an expanding exploration company focused on
developing onshore North American oil and natural gas
reserves. The Company's current focus is on the continued
exploration and development of its current land portfolio in
Oklahoma, as well as the drilling and production of the new
Oklahoma-2013 Project (5% interest).
Safe Harbor Statement: Statements which are not historical facts
are forward-looking statements. The Company makes
forward-looking public statements concerning its expected future
operations, performance and other developments. Such
forward-looking statements are necessarily estimates reflecting the
Company's best judgment based upon current information and involve
a number of risks and uncertainties, and there can be no assurance
that other factors will not affect the accuracy of such
forward-looking statements. It is impossible to identify all
such factors but they include and are not limited to the existence
of underground deposits of commercial quantities of oil and gas;
cessation or delays in exploration because of mechanical,
operating, financial or other problems; capital expenditures that
are higher than anticipated; or exploration opportunities being
fewer than currently anticipated. The Company has no official
gas or oil reserves at this time and may not have sufficient
funding to thoroughly explore, drill or develop its
properties. Factors which could cause actual results to differ
materially from those estimated by the Company include, but are not
limited to, government regulation, managing and maintaining growth,
the effect of adverse publicity, litigation, competition and other
factors which may be identified from time to time in the Company's
public announcements and filings.
Investor Contact LiveCall Investor Relations for Brinx Resources
E-mail: info@brinxresources.com Brinx Corporate:
www.brinxresources.com Toll-Free: (877) 226-8002
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