Bering Exploration Inc. (OTCBB: BERX) has completed the initial production test conducted at the conclusion of the re-completion performed on one of its wells on its North Edna prospect.
The initial test report showed that the well flowed at 400 thousand cubic feet per day on a #6 choke at a 2914 pressure rate with a recovery rate of 4.33 barrels per day of condensate and no water from a virgin zone in this formation. This 348 acre prospect is located in Jefferson Parish, La., and has potential gross reserves of the equivalent of 1 million barrels which, based upon today's prices, equates to a gross value of more than US $95 million dollars.
The company is now taking bids to complete the well and establish a gas pipeline tie-in, according to the release.
Headquartered in Houston, Bering Exploration Inc. is an independent oil and natural gas company that focuses on identifying, evaluating, developing and acquiring potential natural gas and oil wells in the Gulf Coast onshore region.