ALBUQUERQUE, N.M., Aug. 16, 2011 /PRNewswire/ -- Brinx Resources Ltd. (OTCQB: BNXR) is pleased to report that the Company and its partners have set production casing on the recently drilled 2008-3-5A development well in southern Oklahoma. The 2008-3-5A development well offsets the highly successful 2008-3-5 oil and natural gas discovery well drilled in 2009.
The original 2008-3-5 well has produced over 155,000 barrels of oil and 16.5 million cubic feet of natural gas from a single pay zone since completion in May of 2009. The 2008-3-5 well continues to produce at a stabilized rate of over 100 barrels of oil per day. Drilling of the new 2008-3-5A development well targeted a number of additional upper pay zones identified during the 2009 program.
Electric logs recently conducted on the new development well have reconfirmed previous estimates that the upper pay zones could contain over 180,000 additional barrels of oil to be recovered. Completion of the first of these new pay zones should start within the next two weeks and is expected to add significantly to Brinx's daily production and Proven Developed Producing Reserves.
Further information regarding the 2008-3-5A development well and other Brinx business will be released as it becomes available.
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 land portfolio comprised of working interests in the Three Sands Project in Noble County, Oklahoma (25 to 40% interest); the Oklahoma Projects drill and seismic programs (5% interest); and the King City project in California (20% interest). Brinx Resources is seeking to further develop its existing projects through development or offset drilling and expand its portfolio to include additional interests in North America and internationally.
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.
SOURCE Brinx Resources Ltd.