Porter/DePauli Leases
Hathaway LLC acquired the Porter lease in August of 2007. The Porter lease had one idle well, no existing tank facilities and no existing electrical services. In October of 2007, Hathaway LLC drilled the Porter #4 well which IP'd at a 121 BOPD rate. Immediately thereafter the lease was electrified and complete facilities were constructed. Within months after the completion of Porter #4 Hathaway LLC acquired the DePauli lease adjacent the Porter lease.
In May of 2009, Hathaway LLC, and its partners, drilled Porter #5 and Porter #10DP (Depauli's 1st well). Both wells encountered the Etchegoin formation and are now on production. Porter #5 also encountered the Lower Chanac formation which was not prevalent in either Porter #4 or Porter #10DP. In summer of 2011 we completed Porter #7 and better defined our faulting boundaries to the East.
Hathaway USL/Keating USL Oil and Gas Leases
Starting in March of 2011 Hathaway LLC began exploration on these leases. In 2011 we completed three wells within this area and have solidified our initial geological opinion and in turn secured our acreage position. In 2012 the company plans a very aggressive drilling program on these properties. Due to the confidential nature of this work we have requested and received confidentiality status from the DOGGR. No production results will be published for two years from the dates the wells were drilled.