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April 14, 2008 --- Vol. 14, No. 40April 2008

Tofkat hits ‘oil bearing sandstone reservoir’

Drilling at the Tofkat No. 1 well this winter found “oil bearing sandstone reservoir,” according to the joint venture carrying out the exploration program.

The sandstone reservoir is in a part of the Kuparuk formation near the Nanuq field in the Colville River Unit, five miles northwest of Tofkat No. 1.

Testing and analysis showed an interval of 10 feet of gross pay and six feet of net pay, which the joint venture called “comparable to the Nanuq field.”

Brooks Range Petroleum Corp., a wholly owned subsidiary of Alaska Venture Capital Group, is running the winter exploration program on behalf of a joint venture with TG World Energy Corp., Nabors subsidiary Ramshorn Investments Inc. and Bow Valley Alaska Corp.

The companies did not attempt a production test on the well.

However, by drilling two sidetrack wells at Tofkat No. 1 the joint venture thinks it has “established the edge of the reservoir.” All three wells also “encountered oil in secondary targets above the Kuparuk.”

Hoping to better evaluate the prospect, the joint venture is currently shooting 3-D seismic over its leases in the area. They expect to finish by the end of the month and analyze the data toward the end of the year in preparation for the 2009 winter drilling season.

Editor’s note: see story in April 20 issue of Petroleum News, available online to subscribers at noon, Friday, April 18, at www.petroleumnews.com.

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