DGAP-News: TEXAS OIL GAS PLC ACQUIRES TWO WESTERN KENTUCKY LEASES
(firmenpresse) - DGAP-News: Texas Oil Gas PLC / Key word(s): Acquisition
TEXAS OIL GAS PLC ACQUIRES TWO WESTERN KENTUCKY LEASES
31.05.2012 / 10:43
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TEXAS OIL GAS PLC ACQUIRES TWO WESTERN KENTUCKY LEASES
- 145 ACRES ADJOINING EACH OTHER IN ADAIR COUNTY, KENTUCKY
- THE NEWBY LEASE AND THE HAMLET LEASE COMPRISE OVER 145 ACRES
- THE FAMOUS GRADYVILLE GEOLOGICAL AREA
- THE COMPANY PLANS TO DRILL ON THESES LEASES
- SPACING IS AT 5 ACRES AND THE COMPANY CAN DRILL 29 WELLS TOTAL
- SHALLOW DRILLING TO 1450 FEET TO 1850 FEET WHICH IS COST EFFECTIVE
- WELLS IN THIS GEOLOGICAL FORMATION ARE PRODUCING 5 BPD TO 200 BPD
THE MAIN ZONE OF PRODUCTION IS THE KNOX FORMATION; KNOX OIL RESERVOIRS
THROUGHOUT SOUTH CENTRAL KENTUCKY COUNTIES ARE SALT WATER DRIVEN. HYDRAULIC
PRESSURE FROM SALT WATER ACUIFER IN THE UPPER KNOX FORMATION PROVIDES THE
RESERVOIR DRIVE MECHANISM TO PRODUCE CRUDE OIL. THE KNOX FORMATION HAS
PRODUCED VERY STRONG PER WELL INTITIAL PRODUCTION RATES AND HAS VERY
SUBSTANTIAL IN PLACE RESERVES FOR INDIVIDUAL FIELDS. SEVERAL KNOX OIL
FIELDS THROUGHOUT COUBNTIES IN SOUTH CENTRAL KENTUCKY HAVE PRODUCED OVER
200,000 BARRELS OF OIL AND HAVE IN PLACE RESERVES OF OVER ONE MILLION
BARRELS OF OIL. NUMEROUS KNOX OIL WELLS IN THESE FIELDS HAVE
INITIALLY PRODUCED OVER 100 BOPD. THERE ARE MULTIPLE ZONE PLAYS ON THESE
LEASES SUCH AS THE LEIPERS ZONE OR THE FAIRMONT ZONE . SO DRILLING AT
DIFFERENT ZONE LEVELS WILL MAXIMIZE THE LEVELS OF PRODUCTION.
Contact Details:
Martin Keinman
President
Texasoilgasplc
934 university drive suite 104
Coral springs , Florida 33071
Falconcapital2(at)aol.com
www.texasoilgasplc.com
End of Corporate News
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172266 31.05.2012
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Datum: 31.05.2012 - 10:43 Uhr
Sprache: Deutsch
News-ID 151614
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