Drilling to commence on South Evetts Prospect.VANCOUVER, B.C.--(BUSINESS WIRE)--July 27, 1995--The company wishes to announce that drilling of the initial test well on the South Evetts (Wolfcamp) Prospect, Loving & Winkler Winkler may refer to:
The initial test well will be drilled to a depth of 12,000 feet. The cost to drill and complete the well at this depth is estimated at $800,000 (US). The company's proportionate share of the drilling costs on the initial test well will be carried by Ultra Petroleum (U.S.A.) Corp. The South Evetts Prospect is located in Winkler County, Texas Winkler County is a county located in the U.S. state of Texas. In of 2000, its population was 7,173. Its county seat is Kermit6. The county is named for Clinton M. Winkler, a Colonel in the Confederate Army. Geography According to the U.S. , in the most prolific part of the Delaware Basin The Delaware Basin in West Texas and southern New Mexico is famous for holding large oil fields and for exposing a fossilized reef. Guadalupe Mountains National Park and Carlsbad Caverns National Park protect part of the basin. gas-producing province. It is immediately south of and on trend with the Evetts field, which has to date produced 723 BCF BCF Billion Cubic Feet BCF Bioconcentration Factor BCF British Chess Federation BCF British Coatings Federation BCF Breast Cancer Fund BCF Bank Credit Facility BCF Bulked Continuous Filament BCF British Cycling Federation BCF Boeing Converted Freighter gas from the Silurian-Devonian, Fusselman and Ellenberger formations. An agreement has been reached between the company and the various participants designating Pogo Producing Company as operator of the first well to be drilled on the initial 320-acre spacing unit. The total contract area is composed of approximately 9,300 acres, of which Pogo Producing Co. has a 43.75% working interest, TMBR/Sharp Drilling Inc. has a 12.5% working interest and the company has a 21.875% working interest. On subsequent wells within the contract area, the working interest will revert re·vert v. 1. To return to a former condition, practice, subject, or belief. 2. To undergo genetic reversion. to a 51.272% working interest for Pogo Producing Co., and an 11.8432% working interest for the company, with other participants receiving their proportionate percentage of the remaining working interest. In addition to the above-noted acreage, the company holds a 50% working interest in an additional 4,860 acres, in the South Evetts Prospect made up of the Michell Acreage Block and the University Block. The company will provide details on reserve estimates on the 14,160 acres comprising the total contract area once the report detailing the same becomes available. On behalf of the Board of Directors Dusty Mac Oil and Gas Ltd. Richard L. Coglon President and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. NOTE TO EDITORS: The Vancouver Stock Exchange Vancouver Stock Exchange (VSE) A securities and options exchange in Vancouver, British Columbia, (Canada), specializing in venture capital companies. Vancouver Stock Exchange See Canadian Venture Exchange (CDNX). has not reviewed and does not accept responsibility for the accuracy of this news release. CONTACT: Dusty Mac Oil & Gas Ltd., Vancouver Richard L. Coglon, 604/683-2568, 800/444-9348 |
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