Cadence Drills Two More Oil Wells In Wilbarger County, Texas.Business Editors/Oil and Energy Writers WALLA WALLA Walla Walla (wŏl`ə wŏl`ə), city (1990 pop. 26,478), seat of Walla Walla co., SE Wash., at the junction of the Walla Walla River and Mill Creek, near the Oregon line; inc. 1862. , Wash.--(BUSINESS WIRE)--May 16, 2002 Cadence cadence, in music, the ending of a phrase or composition. In singing the voice may be raised or lowered, or the singer may execute elaborate variations within the key. Resources Corporation (OTCBB OTCBB See OTC Bulletin Board (OTCBB). :CDNR CDNR Chronic Disease Notes and Reports ) announced today that the Company has successfully completed the logging of its second and third oil wells on the Company's leased acreage located on the Waggoner Ranch in Wilbarger County, Texas Wilbarger County is a county located in the U.S. state of Texas. In 2005, the United States Census Bureau estimated that the population was 13,896, down from 14,676 in 2000. The county seat is Vernon6. . Results of the logs indicate both of the new wells are commercial and each will be completed for production. On January 25, 2002 the Company announced that it had completed logging of its first well in the area that encountered a total of 40 feet of net pay. The Company holds a 60% working interest in this first well. Drilling of the second well was finished last week to a total depth of 3303 feet and which targeted the top of the Canyon formation. The well encountered 6 different pay zones between the 2430 foot level and the 3101 foot level that ranged from 4 feet to 45 feet in thickness, for total net pay of 69 feet. The Company holds a 100% working interest in this second well. Drilling and logging of the third well was completed on Sunday, May 12, 2002 to a total depth of 2600 feet. The well encountered two pay zones, one in the Upper Milham sands of 13 feet, and one in the Lower Milham sand of 6 feet for a total of 19 feet of pay. The Company holds a 60% working interest in this third well. The Company expects to complete both of these new wells by June 2, 2002. Furthermore, the Company has recently arranged to have electricity run to the project site and expects to have all three wells in production by mid-June, 2002. The Company is continuing to evaluate the results of 3-D seismic testing which was completed in April, 2002 to identify other drill sites. The geologists of the Company have identified at least two additional sites which will target reef structures in the Canyon formation, and are also evaluating numerous other potential locations targeting the Upper and Lower Milham sands. Current Company plans are to double the acreage position it holds in this area. Certain statements contained herein may contain forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. that involve risks and uncertainties. Therefore, actual results may differ materially from those projected or implied. As a result, these forward-looking statements represent the Company's best judgment as of the date of this news release. For further information, please contact Howard Crosby Howard Crosby may refer to:
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