Blue Earth Resources, Inc. (the "Company") (OTC Pink: BERI) (PINKSHEETS: BERI), an oil and gas exploration and production company reported today on its ongoing operation activities.
The Company stated that the initial phase of workover activity has been hindered by adverse weather conditions in the area. With improved climate conditions, workover activity has resumed on the Hunter Mannies #1. This well has solid long life production with initial production level coming in at 125 barrels per day. After careful evaluation and consultation with Blue Earth's advisory team, the Company has made the decision to re-perforate the well. During consultation, Blue Earth's advisory team discovered two potential producing zones that have developmental opportunities.
When Chesapeake Energy discovered the Haynesville Shale, they proceeded to drill 5 wells on the Hunter Mannies lease. It was at that time they discovered what appears to be an oil zone that has not been produced. With the perforation of the two new zones, engineers believe it will optimize reservoir production and maximize reserve recovery.
"We are excited about the activity taking place on the Hunter Mannies lease and look forward to announcing the results in the next few days," said John Lai, President of Blue Earth Resources.
About Blue Earth Resources, Inc.
Blue Earth Resources, Inc. headquartered in Inver Grove Heights, Minnesota, is a growth-oriented oil and gas Exploration and Production (E&P) company with a focus on growing reserves and net asset value per share, through the development and enhancement of oil and gas properties as well as developmental drilling opportunities.
Forward Looking Statements
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Blue Earth Resources Inc.
SOURCE: Blue Earth Resources, Inc.