Vortex Resources Corp. (VTEX.OB) Updates Shareholders on Drilling Activities
Source: http://Blog.QualityStocks.net/?p=13839Posted on Thursday, November 13th, 2008 | In Small & Micro Cap
Today, Vortex Resources Corp. released an update concerning its drilling operations in Crocket County, TX. So far the company has drilled three successful natural gas wells. All three of these wells (42-105-40868, 42-105-40820 and 42-105-40720) are located in the Adams-Baggett Field and will be producing from the Wolfcamp Canyon Sandstone reservoir.
Vortex Resources utilized the services of Weatherford in fracing and competing Well 42-105-40868 and Well 42-105-40820. Well 42-105-40868 was drilled to 4,708 feet and was successfully completed after frac treatment on October 27, 2008. Well 42-105-40820 was drilled to 4,672 feet and was successfully completed after frac treatment on the same date. According to the press release, both wells are scheduled to be connected to a pipeline operated by Millennium on or about November 26, 2008.
42-105-40720, the company’s third discovery well, is anticipated to be completed on or about December 5, 2008. Vortex also stated that its fourth well (API No. 42-105-40719) is almost finished with the drilling phase and will be schedule for fracing and completion as soon as the drilling phase is completed on the condition that it is a discovery well.
CEO Yossi Attia commented, “We are pleased with our progress in starting our drilling program. We aim to establish a distinguished track record in drilling successful wells with favorable return and manageable risk profiles as evidenced by the results of our first three wells.â€
Let us hear your thoughts: Vortex Resources Corporation Message Board
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