CaiTerra International Energy Corporation (TSXV:CTI) announced that it has already commenced drilling on its Faust Property which comprises of 18,600 net acres of land that won’t expire for the next 3 years, and 3,840 net acres of land that won’t expire until April 2013.
As quoted in the press release:
The well configuration is a vertical well with a planned drill depth of 955 metres and is being conducted along a line of 2D seismic located on the eastern half of Legal Subdivision (LSD) 9, Section 4, Township 72, Range 10, West of the 5th Meridian. At the date of this news release, the drill has reached a depth of 500 metres.
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