Strata-X Energy (ASX:SXA; TSX-V:SXE) is engaged in the business of oil and gas exploration and development with a variety of exploration opportunities in North Dakota, California, Colorado, Texas, Illinois and Western Australia.
inShare Email Strata-X Energy to stimulate Illinois horizontal oil and gas well Tuesday, November 19, 2013 by Proactive Investors
Strata-X Energy is preparing to carry out multi-stage horizontal stimulation of the Burkett 5-34HOR well at its Vail Oil Project in Illinois. Strata-X Energy (ASX: SXA, CVE: SXE) is preparing to carry out multi-stage horizontal stimulation of the Burkett 5-34HOR well at its Vail Oil Project in the Illinois Basin, Illinois.
Burkett 5-34HOR was drilled as a test of the Devonian Lingle formation and had encountered oil and gas shows with oil visible in the drilling mud.
Should the stimulation be successful, the well will be set up for production testing.
The company has also commenced site preparation for the Maverick Oil Project multi-stage stimulated vertical well, its first well targeting the prospective Eagle Ford Shale in Texas.
The Cinco Saus Creek-1 well is designed as a vertical exploratory well with an anticipated vertical depth of 4,200 feet.
It plans to core and pressure test about 600 feet of the Eagle Ford Shale and Buda formations and using the core analysis and pressure test results, design an optimal multistage vertical stimulation program for the well.
Strata-X has a 100% interest in the Vail Oil Project and 97% working interest in the Cinco Saus Creek-1 well.
SXA Price at posting:
43.0¢ Sentiment: Buy Disclosure: Held