Mathers-Gordon

Gordon Prospect

There are four objectives within the prospect. The Brown Dolomite, at a depth of 4500', the Virgilian at 5600', the Thorndike Granite Wash at 7800' and the Atoka at 11,500'. Numerous wells with historical production from these zones within the general prospect area provide excellent subsurface control.

The primary control well for the Brown Dolomite, is the Maxwell, Moore #1. The Moore was originally drilled by Ricks Exploration as a Brown Dolomite test and completed as such in May, 2001. In November 2003, Maxwell purchased the Moore. It was produced to it's economic limit, and then converted to a salt water disposal well in February, 2007.

The Moore had successfully proved reservoir, sourcing and trapping of a wildcat prospect. To further aid and define the extent of the reservoir, Maxwell purchased two seismic lines. The integrated interpretation of the data showed critical four-way dip on the top of the Brown Dolomite within the prospect, with the Moore being located on the southeast edge of the closure. The size of the reservoir, as mapped, provides up to a maximum of seven locations with potential recoverable reserves estimated at 9 BCF based upon 120 acre drainage.

The Virgilian was proven productive by the southerly offsetting R.B.Mathers 1-74 in 1969. After a misrun drillstem test which had flowed gas to surface, the pay interval was perforated, acidized, and water fractured resulting in the well flowing 750 mcf/d. Undefinitive production records show 378.8 Mmcf + 19,763 bbls. oil from Virgilian. perforations along with 72,880 bbls. oil + 8.314 Mmcf from the Thorndike perforations with possible commingling. Subsurface mapping has identified 3 potential locations within the designated prospect acreage with potential calculated recoverable reserves estimated at 2.8 BCF based upon 120 acre drainage.

The Thorndike Granite Wash interpretation identifies three locations which underlie the above mentioned Virgilian locations. This conveniently allows the evaluation of both zones within the same well bore. Thorndike production was established by the R.B.Mathers 2 located in section 1 of the J.Stump Survey in 1966. The well had produced 341.243 Mmcf + 83,996 bbls. of oil before being plugged back to the Atoka. Several additional wells were completed in this zone which ultimately led to the designation of the multi-pay "Thorndike" Field which has produced 18.878 BCF and 753,935 bbls. oil as of mid 2007. Maxwell is presently producing the Thorndike in the southerly offsetting Mathers 2A-74R which it drilled in December of 2006.

There are two plugged and abandoned Atoka producers within the prospect. The R.B Mathers in the Stump Survey produced 1.562 Bcf + 40,403 bbls.oil from 2/66 to 3/74, and the F.W.Gordon in section 1 produced 172.980 Mmcf + 7716 bbls.oil from 7/70 to 12/71. Several control wells with Atoka production on the east side of the Maxwell acreage block provide excellent subsurface control. Production is from several separate intervals within the lower 500 feet of the section. A geophysical interpretation (above mentioned data) showed the Atoka wells being distributed over five individual fault blocks within the prospect area. Having the benefit of multiple productive lenses, the Atoka interpretation identified four locations on Maxwell acreage. Three of the four locations will also evaluate the overlying Virgilian and Thorndike.