TOREADOR ANNOUNCES NEW DISCOVERY ON THE PITCHFORK RANCH
TOREADOR ANNOUNCES NEW DISCOVERY ON THE PITCHFORK RANCH DALLAS, Nov. 13 /PRNewswire/ -- Toreador Royalty Corporation
(NASDAQ: TRGL) announced today that the Hollis R. Sullivan, Inc. No. 12-1 Toreador Pitchfork "D" well located on the Pitchfork Ranch, Dickens County, Texas, had recovered approximately 2,700 feet of free oil on drill stem test from the Tannehill formation. The well is currently at a total depth of 4,285 feet, having run production casing. Toreador has a 9.65 percent royalty interest in this well and the 329-acre lease on which it is drilled. In addition, Toreador has a 9.375 percent royalty interest in leases covering approximately 2,260 acres in offset sections and also has a one-eighth working interest in 935 acres offsetting the well.
Peter Vig, chairman of Toreador Royalty, stated that while additional drilling will be required to delineate the discovery, which extends production approximately two miles northwest from the Matador- Williams Field, it is potentially significant to the company given its royalty and working interest position. Toreador owns a 15/32nds mineral interest under the 42,000-acre Pitchfork Ranch. Toreador owns in excess of 500,000 net mineral acres located primarily in the Texas Panhandle and Northwest Texas. In addition, the company owns working or royalty interests in Texas, New Mexico, Oklahoma, Arkansas and Louisiana. -0- 11/13/91 /CONTACT: Peter R. Vig, chairman of Toreador, 214-220-2141/ (TRGL) CO: Toreador Royalty Corporation ST: Texas IN: OIL SU: DSC GK -- NY028 -- 3855 11/13/91 10:33 EST
|Printer friendly Cite/link Email Feedback|
|Date:||Nov 13, 1991|
|Previous Article:||DIGI INTERNATIONAL INC. REPORTS RECORD FOURTH QUARTER AND YEAR END RESULTS|
|Next Article:||NORTH EUROPEAN OIL ROYALTY TRUST REPORTS RESULTS|