Bayou Bend Petroleum Ltd. has commenced drilling its second well on the Marsh Island project located in the Gulf of Mexico, offshore Louisiana. The well is testing the Bootspur Prospect, a large structural trap approximately 1.5 miles southeast from the Company's producing Greylock field. TODCO Rig 52 was mobilized to site and Bootspurt #1 spudded on June 24, 2007.
The Boot Spur prospect is a 15700 feet geopressured Cib Op test that will offset the recent Dutch discovery by Contango Oil and Gas Company. The well is expected to reach target depth in approximately 70 days. If successful, the well will be immediately completed and tied-in to the Company's El-7 production facility. The Company has a 35.5809% interest in the well.
The Marsh Island project comprises a quality portfolio of gas/condensate assets onshore/offshore Marsh Island in the Gulf of Mexico, including the 40 MMcfgpd production facility that is tied into the existing regional pipeline infrastructure.
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