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KOKO PETROLEUM (KKPT) - This is our #1 pick for next week!
Our last pick gained $2.16 in 4 days of trading.
Current Price: $.86
5 day expected price $3.25
This has been a great producer in our last PR Campaign
KOKO Announces Corsicana Re-work Project and Production
Results for its Barnett Shale Wells
Thursday April 6, 3:51 pm ET
LAS VEGAS, NEVADA--(MARKET WIRE)--Apr 6, 2006 -- KOKO
Petroleum, Inc. (Other OTC:KKPT.PK - News) -
KOKO Petroleum, Inc. announced today that its operator for
the Corsicana Field, JMT Resources, Ltd. ("JMT")
will commence a re-work program on its Pecan Gap wells in
the next week. The re-work program will consist of drilling
six lateral bore production strings from the existing well
bore. This process, known as Radial Jet Enhancement, will
utilize high pressure fluids to drill the lateral well
bores, which will extend out approximately 350' each.
JMT has contracted with Well Enhancement Services, LLC
(www.wellenhancement.com) to perform the rework on its
Pierce nos. 14 and 14a. A small sand frac will follow the
drilling of the lateral well bores in order to enhance
permeability and create larger access to the Pecan Gap
reservoir. Total cost of the re-work per well is estimated
to be approximately $50,000 USD.
Well Enhancement Services has reported increases in
production for wells where the lateral was successfully
placed. Average increases are reported to be from 300% to
1000%, which justify the incremental cost associated with
the re-work project. Assuming positive results, JMT will
re-work the second well, which is adjacent to the first and
schedule the rework on its remaining Pecan Gap wells, which
currently total 8.
KOKO announces that JMT has completed drilling the 4th pilot
well for the Corsicana Flood Project. We plan on drilling 7
production wells and 6 injection wells prior to the
implementation of the alkaline-surfactant-polymer
technology.
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