Mathers-Gordon

Mathers Prospect

The Missouri "E" Granite Wash (Mo."E") is the primary objective of the prospect at a depth of 8300'. Maxwell established production from the Mo."E" in December 2005, by the drilling and completion of the Mathers 2-74R. The Mo."E" was a wildcat test of a prospective zone that does not have an established production history in the area. In July of 1997, Samedan Oil Corporation perforated the Mo."E" in it's Reeves #1 which is located 2.5 miles to the southeast in section 71 of Wheeler County. Samedan perforated 8' from 8254 -8262 which resulted in an instant gas blow at the surface. A final flow rate of 1.2 Mmcf/d on a 32/64" ck with a 920 # FTP was recorded. Samedan chose not to complete in the Mo."E" and plugged back to the oil leg of the overlying Thorndike. Subsurface mapping has identified an additional eleven locations within the prospect acreage with potential recoverable reserves estimated at 49.368 BCF based upon 120 acre spacing.

There are potentially 11 Thorndike locations within the Mathers prospect. Potentially the estimated recoverable reserves of 16.265 BCF based upon 120 acre drainage. Two offsetting wells to the Maxwell 2A-74R Thorndike producer have produced from the Thorndike. The Huselby #1 in section 73 produced 779.391 Mmcf + 16,151 bbls. oil from 3/70 to 8/75 and the above mentioned R.B Mathers 1-74.

A total of 5 Virgilian locations are mapped within the prospect. Potential recoverable reserves are estimated at 3.978 based upon 120 acre drainage.
Of the eleven Mo. "E" locations, the overlying Thorndike is prospective in all of the 11. Five of the eleven locations are also prospective in the overlying Virgilian, and of these five, three are also prospective in the underlying Atoka.

The geophysical interpretation identified 3 Atoka locations within the Mathers prospect with calculated recoverable reserves 6.9 BCF based upon 120 acre drainage.