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Brownstone Energy Inc. (TSXV:BWN,OTCQX:BWSOF) announced that a drill rig has been contracted to drill the first well at its Colorado-based Kokopelli project, in which it holds a 28 percent interest. The rig is currently on its way to the project.
Brownstone Energy Inc. (TSXV:BWN,OTCQX:BWSOF) announced that a drill rig has been contracted to drill the first well at its Colorado-based Kokopelli project, in which it holds a 28 percent interest. The rig is currently on its way to the project.
As quoted in the press release:
Brownstone has been advised that this well is expected to spud during the coming week and will be directionally drilled to the base of the Williams Fork, logged, with casing set during the third quarter of 2012.  Successful completion of this well will secure for Brownstone and its partner the substantial portion of the proven and probable undeveloped reserves, ~60 BCFe including ~3.6MM barrels of liquids net to Brownstone, attributed to the Williams Fork section of this Kokopelli leasehold by independent engineers. Production is expected to be tied into existing gathering systems by year end.
Click here to read the full Brownstone Energy Inc. (TSXV:BWN,OTCQX:BWSOF) press release.