• Investors smile on Crimson results
• Crimson wells come online
• Crimson hits with Texas well

The Littlepage McBride-5H well flowed at an average rate of about 989 barrels of oil per day and 658,000 cubic feet of gas per day over a 24 hour testing period on a 0.25 inch choke and 2435 psi of flowing tubing pressure.

The Littlepage McBride-6H well flowed at a 24 hour test rate of 997 bpd and 673 Mcfd on a 0.25 inch choke and 2449 psi of flowing tubing pressure.

Crimson has so far achieved gross initial production average rates of 1067 barrels of oil equivalent per day for the first six wells to be drilled on its Littlepage McBride leasehold.

“The continued positive results in Karnes County further validate Crimson’s ability to capitalise on our unconventional oil assets as well as continue to develop new opportunities organically,” Crimson chief executive Allan Keel said.

“We are currently in the process of finalising our capital program for 2012, which will be focused on further developing our oil/liquid weighted assets in the Eagle Ford and Woodbine formations, while staying within cash flow.”

Crimson added its Littlepage McBride-7H well had reached a total depth of 16,435 feet, including a 5950 foot lateral, with completion operations expected to take place in the first week of January with 19 stages of frack expected to be carried out.

The rig is now being moved about one mile to the north to drill the Glasscock-1H well which is expected to spud early next month.