Odyssey operates 24 oil and gas wells and one saltwater disposal well in Puckett Field. The field is located about twenty miles southeast of Jackson, Mississippi (figure 1). Discovered in the early 1960s with the aid of early seismic and gravity surveys, Puckett Field produces from a series of Cretaceous age sands, inclusive of the Mooringsport, Paluxy, Fredericksburg, Washita and Tuscaloosa. The Puckett Field is an asymmetrical anticlinal feature situated on a salt feature with estimates of original oil in place of 40 million barrels of oil in the developed formations. The Field is also characterized as a graben with two 450’ faults trending east-west.

Cumulative production to date has been approximately nine million barrels of oil and eight billion cubic feet of gas. The reservoir drive mechanism for most of the sands is a mixture of solution gas, gas cap expansion, and water drive. Produced crude varies from 28 to 40 gravity, and is mostly sweet but occasionally sour.

Since purchasing the Field in 2005, Odyssey has been actively engaged in a program of re-entering wells drilled in prior years and re-completing to either new zones or back into zones not completely depleted. The Company has been successful in significantly increasing field production.

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