Tenguy World International, Inc. (TGWI) Secures Additional Investment in Planned Oil & Gas Well
(firmenpresse) - HOUSTON, TX -- (Marketwire) -- 12/06/12 -- Tenguy World International, Inc. (PINKSHEETS: TGWI) reported today that the Company has purchased an interest in a new oil & gas well located in Garvin County, OK that was scheduled to begin drilling this month.
The Company is pleased to report that the drilling on the Branch #1 Well project commenced early on November 30, 2012 at 5:30 CST. The well is currently drilling ahead at 1800 ft. The primary focus is to test the lucrative Oil Creek sand with adjacent Oil Creek producing wells just to the south of the proposed drill site on the same anticlinal system with one of the three wells that have produced from the Oil Creek sand accumulating nearby 600,000 barrels of oil with associated gas. The other two Oil Creek wells produced 250,000+ and 193,000+ barrels oil respectfully with gas.
The wells are located in Garvin County, OK on the same property containing the seven operating wells in which Tenguy World International owns an operating interest. The property is in the Pauls Valley Uplift area. The Pauls Valley Uplift area of Gavin County is well known in the Mid-Continent Region as a very good seismic data quality area. The primary targets of the 3-D shoot, the Oil Creek sand, Bromide sands, Viola lime and Pennsylvanian sands can be interpreted with a great degree of accuracy. The subsurface of the area is one of distinct and radical lithological changes, yielding many very consistent reflectors due to the extreme velocity changes.
About Tenguy World International, Inc.
The Company was originally incorporated in 1923 in the state of Colorado. Tenguy World International is an independent oil and gas company, engaged in the acquisition, exploration, development, and production of oil, natural gas, and natural gas liquids in the United States.
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Datum: 06.12.2012 - 12:00 Uhr
Sprache: Deutsch
News-ID 210249
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HOUSTON, TX
Kategorie:
Alternative Energy
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