subject: Mesa Energy Holdings, Inc. (OTCBB: MSEH) $16M (MarketCap) Provides Ludwig #1 Update [print this page] Mesa Energy Holdings, IncMesa Energy Holdings, Inc. (OTCBB: MSEH) $16M (MarketCap) Provides Ludwig #1 Update
Mesa Energy Holdings, Inc. (OTCBB: MSEH) is an exploration stage oil and gas exploration and production company with a focus on the Marcellus Shale in western New York. Today, the company provided an update on its re-completion of the Ludwig #1 well in its Java Field prospect located in Wyoming County, New York.
The Ludwig #1 in the southern portion of the Company's Java Field has been successfully re-completed and fracked in the Marcellus Shale zone. A total of 36 feet of well bore was perforated between 1,892 feet and 1,994 feet and fracked with 77,000 gallons of water and 141,600 lbs. of sand. Initial pressures and flow-back rates have been higher than expected. Flow-back of the frac water is continuing and surface facilities are being installed in preparation for re-connection of the well to the Company's pipeline system. There is not yet enough data to accurately quantify the gas flow, however, there is clear indication of a strong gas presence in the Marcellus zone. Planning for the re-completion and fracking of additional wells in the field is underway.
"The initial performance of the Ludwig #1 and the Reisdorf Unit #1 strongly supports our efforts in the Marcellus Shale in western New York. We are moving forward with the planning of additional re-completions in the field as well as evaluating potential acquisitions and joint venture opportunities," said Randy M. Griffin, CEO of Mesa Energy Holdings, Inc. "We will continue to provide updates as new information warrants."
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