SHANNON RANCH OIL DEVELOPMENT PROJECT BEGINS
SHANNON RANCH OIL DEVELOPMENT PROJECT BEGINS VANCOUVER, British Columbia, Oct. 5 /PRNewswire/ -- George H.
Laycraft, president of International Dusty Mac Enterprises Inc. (Vancouver: DM), announced that the drill permitting for the Shannon Ranch oil development project has begun. The first well of the 64-shallow-well program will commence as soon as these permits are obtained.
Recoverable reserves are estimated at 9.3 million barrels. The multiphase development within the proven field involves in- fill drilling of 26 new wells to a depth of approximately 2,500 feet and deepening and re-completion of 38 existing wells. The project comprises a 780-acre tract, all of which lies within the area of production of the Shannon field, in the Permian Basin of Southwest Texas. International Dusty Mac Enterprises Ltd., with its partners, will acquire a working interest of 47 1/2 percent from TexCal Resources Inc. of Dallas. Of this farm-in interest, International Dusty Mac Enterprises Ltd. will retain 40 percent. -0- 10/5/92 /CONTACT: George H. Laycraft, president of International Dusty Mac Enterprises, 604-683-2568/ (DM.) CO: International Dusty Mac Enterprises Ltd. ST: British Columbia IN: OIL SU:
JB -- LA043 -- 6837 10/05/92 18:59 EDT
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|Date:||Oct 5, 1992|
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