Super Nova Petroleum (CSE:SNP,OTC Pink:SNOVF) announced that it’s Augusta Krone 31-32 exploration well has reached a depth of 7,400. The well penetrated the targeted Bakken shale formation on October 25 with initial results indicating the discovery of oil. Super Nova is a 20 percent owner of this well.

According to the press release:

The drilling commenced at 1:30pm on Oct. 13th 2014. Super Nova is a 20% owner of this well as previously reported.

The well penetrated the targeted Bakken shale formation in the early morning hours of Oct. 25th 2014, at a depth of approximately 6,900 ft. Initial results indicated the discovery of oil as evidenced by the fluorescence of cuttings and the presence of oil in the drilling mud circulation over the drilling rig shale shakers.

Kory McGavin, Founder of Augusta Exploration, said:

We are very pleased with our Bakken preliminary results, and are confident that this is a major step forward for the future development of wells in the area.

Click here to read the Super Nova Petroleum Corp. (TSX:SNP,OTC,PINK:SNOVF) press release
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