The Conversation (0)
Mogul Energy International, Inc. (OTC:MGUY) reported a second successful well in the La Ward NE Field area in Jackson County, Texas and drilled the Stafford Well #2 on September 23rd.
Mogul Energy International, Inc. (OTC:MGUY) reported a second successful well in the La Ward NE Field area in Jackson County, Texas and drilled the Stafford Well #2 on September 23rd.
The press release is quoted as saying:
Initial open-hole logging indicates the potential of 8 productive zones from the Frio formation with cumulative thickness totaling 49 feet of pay, with both oil and gas shows. The well has been cased to the bottom of the hole, efforts to perforate individual zones are forthcoming this week and an announcement about production volumes will be made when initial testing of the well has been completed.
President and CEO Tim Turner said,
“The Frio sand intervals are thicker in the Stafford #2 well and it has some additional pay zones that are not present in the first well. These features have good implications for other prospective locations in the area and warrant further development of this field.”
Click here to access the entire press release
