Precision Petroleum Corporation Thompson #2 Phase Two Re-Work

Precision Petroleum Corporation (OTC:PPTO) completes the company’s first attempt in shutting off saltwater on their Thompson #2 well in Garvin County.

The press release is quoted as saying:

Their procedure consisted of setting a retainer plug above the First Bromide Sand but failed in this attempt to shut off intrusive water. The company will now initiate their second stage of sealing off the saltwater by squeezing off the First Bromide Sand interval and the entire Viola Limestone, and then drill out and re-perforate and acidize the Upper Viola Limestone in order to isolate the saltwater from below. A successful second stage cementing procedure will allow oil production with only minimal produced water which is common in this reservoir for Garvin County.

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