Other Notable Projects
Sarco Creek (Proprietary) Gulf Coast 3D Project
Doxa acquired a thirty percent (30%) working interest in a proprietary 3D seismic shoot covering over 35 square miles on the Texas Gulf Coast where only limited seismic data exists.
3D seismic operations have been completed and processing of the field data by Geotrace Technologies of Houston, Texas has commenced. Processing is expected to be completed in about 30 days after which, geophysical evaluation and prospect generation will commence. As previously reported, the data will initially be evaluated for oil and gas development opportunities in the Miocene and Frio formations above 5,000' with individual well recoveries of over 200,000+ BOE possible.
The Sarco Creek project is located in a good mix of oil and gas producing zones and a multipay area with complex channel/stream type deposition which Doxa geoscientists believe can be resolved via 3D seismic with AVO processing.
Martin State Gas Unit No. 1
Doxa owns a 14.06% working interest and a 10.6% net revenue under approximately 623 acres comprising the Martin State (County Line Prospect).
Drilling operations have been successfully completed and based on the results of log evaluation, production casing has been run and cemented with completion operations currently under way.
Several of the objective sands are prolific commercial producers on trend and within two miles.
The company expects to drill up to 2 locations.
Koehn Prospect (New Beilau Prospect)
Doxa acquired a 6.25% working interest, together with a 4.81% net revenue interest and expects 1-2 additional development wells will be drilled on the project. The Koehn Prospect covers 401.58 gross acres and is imaged by 3-D seismic data and is a step out from a new discovery well of productive Wilcox formation sands on an adjacent tract in Colorado County, Texas.
The Koehn No.1 well was completed and placed on production on November 23, 2010 at a production rate of 534MCFD, 95 BOPD and 0BWPD on an 8/68" choke flowing with 2,050 psi flowing tubing pressure. The Koehn well was the initial test well on the 445 acre New Beilau Prospect, part of the Wilcox formation in Colorado County, Texas.
Sartain Assets Oil Unit No. 1-H
Doxa acquired a 12.5% working interest along with a 9.375% net revenue interest in Frio County, Texas.
Oil production and first sales from the Sartain Assets Oil Unit No. 1-H in have been initiated. This initial well on the Sartain Assets Prospect is a re-entry of an existing well, which was horizontally drilled in excess of 4,200' within the Pearsall (Austin Chalk) formation at a true vertical depth of approximately 6,000'. The well is producing at a rate of over 200 BOPD on pump.
The company expects that 2-3 additional wells may ultimately be drilled on this project.