Prospects

Emerson Oil & Gas holds a 50% working interest in the W.T. Davis Well and lands within Township 23 North and Range 13 West of Bossier Parish, Louisiana. The net revenue interest of the lease is 75%. The W.T. Davis Well is located in the Arkana Field and initially produced from the Haynesville Formation of the Cotton Valley Series.

The Haynesville Formation of the Cotton Valley Series was selectively perforated from 10,665 feet to 10,816 feet. This interval was acidized and hydraulically fractured with 227,300 gallons of gelled water transporting 627,500 pounds of sand on October 10, 1981. The well was flowed and cleaned up and after several months was placed on a pump to sustain production of approximately 55 barrels of oil per day.

Names of the Principal Properties
The property which is dealt with in this report is located within Township 23 North and Range 13 West, Bossier Parish, Louisiana in the Arkana Field. The Company holds a 50% working interest in the W.T. Davis Well, and a 160 acre lease . The title to the leases and the W.T. Davis Well will be held by Oilwin Oil & Gas Company based in Shreveport, Louisiana, a wholly owned subsidiary of Flying A Petroleum Ltd., a Vancouver, B.C. based company. Flying A Petroleum Ltd. Is obligated to pay 50% of the costs of any work program on the well and lease.

Summary
The Company owns a 50% working interest subject to a 25% overriding royalty in the WT Davis Well and 160 acres of Leases and the equipment listed below. The Company has signed a Farmout and Option Agreement . All the terms of the Farmout ad option Agreement have been met. Flying A Petroleum Ltd. retains a 50% Working Interest in this well and property and is the operator.

Overview
The Company holds a 50% working interest in the W.T. Davis Well and lands within Township 23 North and Range 13 West of Bossier Parish, Louisiana. The net revenue interest of the lease is 75%.

The W.T. Davis Well is located in the Arkana Field and initially produced from the Haynesville Formation of the Cotton Valley Series. The above referenced well was spudded on July3, 1981. A 12 1/4" hole was drilled to 2705 feet at which point 9 5/8" casing was set and cemented. An 8 3/4" hole was drilled to 11,050 feet and after loggin, 5 1/2" casing was set at 11,038 feet with 1150 sacks of cement.

The Haynesville Formation of the Cotton Valley Series was selectively perforated from 10,665 feet to 10,816 feet. This interval was acidized and hydraulically fractured with 227,300 gallons of gelled water transporting 627,500 pounds of sand on October 10, 1981. The well was flowed and cleaned up and after several months was placed on a pump to sustain production of approximately 55 barrels of oil per day. It was determined that frac sand was coming into the well bore causing production flow to be reduced. This sand was reversed circulated out of the well bore in April 1987 and the well hung back on to pump. It was found, after production had steadily declined in early 1990, that sand had again invaded the well bore. Since that time the sand has remained in the well bore covering the production perforations and no sand removal efforts have been made to date. From the size of the frac job done in 1981 it would have been expected that more production would have been achieved from the Haynesville Formation of the Cotton Valley Series. This zone contains 88 feet of 7% porosity or better and the stimulation procedure performed in 1981 was properly designed and executed. However it should be noted that sand from the frac job entered the well bore and might have limited the amount of production achieved.

The Sexton Formation of the Cotton Valley Series, 9607 feet 9634 feet, containing 17 feet of possible net productive interval has been perforated but has not been fully evaluated.

The Bodcaw Formation of the Cotton Valley Series was perforated 8840 feet to 8847 feet in 1982. This interval was acidized with 2,000 gallons of 15% acid. This zone was never further stimulated by fracturing and thus gave up very little production of gas and oil. I also believe that by acidizing this zone, a negative reaction was created which can be overcome by fracing this zone with a diesel oil gel frac.

The Glen Rose Sub-group interval comprises all zones from the base of the Paluxy at approximately 2800 feet to the top of the Travis Peak or Hosston at approximately 7000 feet . The "Upper Glen Rose", a part of the Glen Rose Sub-group is the interval below the Paluxy at 2800 feet and above the Massive Anhydrite.

Company News

Emerson Oil and Gas, Inc. - Continues testing, significant results expected - Thu, Nov 4 - PR Newswire

Emerson Oil and Gas, Inc. - Initial testing provides indications of significant gas potential - Thu, Oct 28 - PR Newswire

Emerson Oil and Gas Inc. President interviewed by Wall Street Reporter - Tue, Oct 26 - PR Newswire

Emerson Oil and Gas Inc. Begins Testing on Louisiana Oil and Gas Property - Thu, Oct 21 - PR Newswire