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Feedback
Energulf Makes Discovery in Texas -- Production Set to Commence
4/11/2006
HOUSTON, Apr 11, 2006 (BUSINESS WIRE) --
EnerGulf Resources Inc. (TSXV:ENG) is pleased to announce it has been notified by Killam Oil Company, the operator of the Longoria 174 No.1 well in Duval County, Texas, has been completed as a producing gas well and is being hooked up to pipeline facilities. Gas production from the Yegua sands should commence flowing within the week.
EnerGulf has paid 5 percent of costs on the 1,291.9 acre Longoria 174 prospect to earn a 5 percent working interest in the prospect and a surrounding area of mutual interest. The Longoria 174 No. 1 is located in a highly prospective area of South Texas. A multi-well drilling program is now anticipated.
Killam has designated the Longoria 174 No. 1 as a tight hole, meaning that all further information will be kept confidential for a period of time due to the competitive exploration environment in the immediate area.
Killam Oil Company was founded in 1921 by legendary Texas wildcatter O.W. Killam and is privately owned by the Killam family. Killam Oil Company pioneered oil exploration in South Texas (Webb, Zapata and Duval counties in Railroad Commission District 4, which is the largest gas producing district in Texas) and currently operates some 280 wells with participation in approximately 550 wells. Killam is one of the top producers of natural gas in the area.
Commenting on the Longoria 174 No.1, Jeff Greenblum, EnerGulf Chairman of the Board stated, "After finalizing our interest in the Exploration License for Block 1711 offshore Namibia, we are very happy to learn that gas is expected to be sold into the pipeline this week for the Longoria 174 No. 1 well in South Texas of which we have an interest. These two events validate our strategic goals of balancing stable production with high impact exploration opportunities. We expect to participate in more drilling with Killam Oil in the future in an effort to increase our production at a time of historic energy prices. Meanwhile, we continue our efforts to build a strong portfolio of high impact exploration opportunities throughout Africa."
On Behalf of the Board of Directors of
4/11/2006
HOUSTON, Apr 11, 2006 (BUSINESS WIRE) --
EnerGulf Resources Inc. (TSXV:ENG) is pleased to announce it has been notified by Killam Oil Company, the operator of the Longoria 174 No.1 well in Duval County, Texas, has been completed as a producing gas well and is being hooked up to pipeline facilities. Gas production from the Yegua sands should commence flowing within the week.
EnerGulf has paid 5 percent of costs on the 1,291.9 acre Longoria 174 prospect to earn a 5 percent working interest in the prospect and a surrounding area of mutual interest. The Longoria 174 No. 1 is located in a highly prospective area of South Texas. A multi-well drilling program is now anticipated.
Killam has designated the Longoria 174 No. 1 as a tight hole, meaning that all further information will be kept confidential for a period of time due to the competitive exploration environment in the immediate area.
Killam Oil Company was founded in 1921 by legendary Texas wildcatter O.W. Killam and is privately owned by the Killam family. Killam Oil Company pioneered oil exploration in South Texas (Webb, Zapata and Duval counties in Railroad Commission District 4, which is the largest gas producing district in Texas) and currently operates some 280 wells with participation in approximately 550 wells. Killam is one of the top producers of natural gas in the area.
Commenting on the Longoria 174 No.1, Jeff Greenblum, EnerGulf Chairman of the Board stated, "After finalizing our interest in the Exploration License for Block 1711 offshore Namibia, we are very happy to learn that gas is expected to be sold into the pipeline this week for the Longoria 174 No. 1 well in South Texas of which we have an interest. These two events validate our strategic goals of balancing stable production with high impact exploration opportunities. We expect to participate in more drilling with Killam Oil in the future in an effort to increase our production at a time of historic energy prices. Meanwhile, we continue our efforts to build a strong portfolio of high impact exploration opportunities throughout Africa."
On Behalf of the Board of Directors of
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