VANCOUVER, BC--(MARKET WIRE)--Jan 30, 2006 -- Portrush Petroleum Corporation (Vancouver:PSH.V - News), (OTC BB:PRRPF.OB - News) (http://www.portrushpetroleum.com) is pleased to provide an update regarding its continuing operations on the Scanio/Sheldon No.6 well in the Mission River property in Texas. ADVERTISEMENT
The well has been drilled to a depth of 8,170 feet since the Company's last report. As drilling progressed indications of increasing pressure have resulted in a decision to run a 7.62-inch liner. This casing string has now been cemented in place and preparations are underway to drill ahead in the over pressured zone to a planned total depth of approximately 10,500 feet. Mud weight will be increased from 9.5 pounds to 15.0 pounds.
An intermediate logging program was completed over the Frio and Vicksburg formations above 8,170 feet. Initial interpretation of the data has indicated the presence of multiple hydrocarbon bearing sandstones above this level.
The intermediate interval logged and described above examined the Frio and Vicksburg above a depth of 8,170 feet. There is potential for other sands to be present in the remaining 2,330 feet or so of section still to be examined as drilling continues to the planned total depth of 10,500 feet.
A final interpretation of the overall hydrocarbon column encountered, and hence estimated reservoir volumes will be made following completion of the drilling and full analysis of all the log data and fluid sampling recovered from the well.
The Mission River lease is operated by McAlester and is located at the south end of the town of Refugio, Refugio County, Texas. The field has multiple pays at depths ranging from 2,000 to 8,500 feet. Portrush has a 10% working interest in the field. To date six wells have been drilled to approximately 6,500 feet and all six have been placed on production.
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