SOURCE: Blugrass Energy Incorporated

April 23, 2010 08:30 ET

Blugrass Energy Update on Cave Pool Project

CALGARY, AB--(Marketwire - April 23, 2010) -  Blugrass Energy Inc. (OTCBB: BLUG) is pleased to announce its JV Partner Doral Energy has begun the process of pressure testing a number of shut-in wells that currently exist on Blugrass' Cave Pool Unit located in Eddy County, New Mexico, to determine which wells will continue to maintain down-hole mechanical integrity. Identifying which wells maintain down-hole mechanical integrity will allow Blugrass and Doral to establish which wells will need further attention. The goal of Blugrass and Doral is to optimize the shut-in wells that are on the Cave Pool Unit while only performing pump repairs and simple lift optimization techniques. Costs associated with these wells should cost approximately $8,000-$10,000 per well and could possibly produce 2-5 bopd. There are currently 41 shut-in wells that exist on the Cave Pool Unit. This optimized work-over program will assist Blugrass and Doral in determining the proven reserves on the Cave Pool Unit. 

Blugrass Energy Inc. is a development stage oil and gas development and exploration company based in the United States that is traded on the Over the Counter Bulletin Board under the Symbol BLUG. The goal of BLUG is to grow through internally generated and developed prospects, participation with industry partners in oil and gas exploration and in targeted joint ventures.

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Contact Information

  • Contact:
    Blugrass Energy Inc.
    Tony Collins
    1-877-511-0110