The Conversation (0)
Hinto Energy (OTCQB:HENI) has announced drilling on a new well in Ohio, located on the Appalachian geosyncline which includes both the Berea Sands and the Ohio shale stratigraphic levels.
As quoted in the press release:
Hinto will retain a 75% non-operated interest in this initial well, after payout, and 75% of any future wells developed on this property and is considering the use of 3D seismic to target higher value prospects. Hinto has established a 36 square mile AMI (area of mutual interest) with the operator, which could provide for additional drilling opportunities.
Hinto Energy CEO, George Harris, said:
We continue to look at exploration and production opportunities that deliver positive results even at current oil and gas prices. We believe this new well provides such an opportunity.
Click here to read the Hinto Energy (OTCQB:HENI) press release
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