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Signature Exploration Announces Koliba Prospect Drilled to a Depth of 5,802 Feet
Jul. 16, 2010 03:33PM PST
Oil and Gas InvestingSignature Exploration and Production Corporation (OTCBB: SXLP), an independent energy company engaged in the exploration, development, exploitation and acquisition of onshore oil and natural gas properties in the U.S., announced today it has received a report from its operator that drilling at Koliba Prospect Well No. 2. located in Victoria County, Texas has reached a depth of 5,802 feet.
Signature Exploration and Production Corporation (OTCBB: SXLP), an independent energy company engaged in the exploration, development, exploitation and acquisition of onshore oil and natural gas properties in the U.S., announced today it has received a report from its operator that drilling at Koliba Prospect Well No. 2. located in Victoria County, Texas has reached a depth of 5,802 feet.
The press release is quoted as saying:
Signature Exploration owns a 15% working interest in the Koliba Prospect, a 173-acre lease located in the highly productive North McFadden Field near the town of Bloomington. The prospect is valued to contain $5.8 million in estimated oil and gas reserves based on current prices. The well is accessible from roads beginning at the intersection of Highway 59 and 185 in eastern Victoria County, Texas.
Click here to access the entire press release