Two Successive Record IPs for Zavanna/USEG Announced -- The Bakken, North Dakota, USA

At Yahoo!In-Play -- item will disappear later today

8:32AM U.S. Energy announces successive record initial production rates from two zavanna wells in the williston basin: Co reported The Wang 10-3 #1H well was fracture stimulated with 35 stages and had an early 24-hour flow back rate of 2,208 BOE/D on a 36/64" restricted choke during drillout of the plugs. The initial production rate consisted of approximately 1,942 barrels of oil and 1.6 MMCF of natural gas. The Company has an approximate 18% WI and 14% NRI in this well. The Wang well began production on March 15, 2012.

Yahoo!Finance link here, the press release:

USEG today reported the initial production rate on the Wang 10-3 #1H well and the Crescent Farms 7-6 #1H well under its drilling program with Zavanna, LLC.
Williston Basin, North Dakota - Yellowstone Program:

• 20094, The Wang 10-3 #1H well was fracture stimulated with 35 stages and had an early 24-hour flow back rate of 2,208 BOE/D on a 36/64" restricted choke during drillout of the plugs. The initial production rate consisted of approximately 1,942 barrels of oil and 1.6 MMCF of natural gas. The Company has an approximate 18% WI and 14% NRI in this well. The Wang well began production on March 15, 2012.
  
• 20105, The Crescent Farms 7-6 #1H has also been fracture stimulated with 35 stages and had an early 24-hour flow back rate of 2,437 BOE/D on a 36/64" restricted choke during drillout of the plugs. The initial production rate consisted of approximately 2,178 barrels of oil and 1.5 MMCF of natural gas. The Company has an approximate 27% WI and 21% NRI in this well. The Crescent Farms well began production on March 22, 2012 and represents the highest reported IP rate for a Zavanna drilling program well to date.

The next two wells which have drilled to depth in this program and are scheduled to be fracture stimulated in April 2012 are;

• 20093, The Skorpil 11-2 #1H well, in which the Company has an approximate 23% WI and 18% NRI.
  
• 20000, The CDK 15-22 #1H well, in which the Company has an approximate 32% WI and 25% NRI.

"We are pleased to announce the successive record IP results of the Wang and Crescent Farms wells with Zavanna. These two higher interest wells coupled with the two additional scheduled for the month of April should add meaningfully to our production for the second quarter of 2012," stated Keith Larsen, CEO of U.S. Energy Corp.

Locations:

• The Wang well is located south of the river, southeast of Williston, in Glass Bluff oil field. 
• The Crescent Farm well is located it the same township. about three miles directly west of the Wang well.The Skorpil well is about one mile due east of the Wang well.
• The CDK well is just a few hundred feet south of the Wang well, on the south side of the section line. The Wang well runs due north; I assume the CDK will run directly south.

Zenergy has a fairly nice horizontal Madison well one mile to the west of the Wang/CDK wells:
15695, 80, Zenergy, Lassey 1-15H, s9/05; t11/05; cum 32K 1/12; short lateral, running northwest to southeast