Kentucky USA Energy, Inc on Further Drilling Developmentsadmin
Friday, August 1st 2008
An early stage natural gas exploration and production, companyKentucky USA Energy, Inc, has recently published a report on its further drilling developments on the New Albany Shale drilling operation. After logging Francis Grace #1 well, the geophysical log confirms that the shale formation encountered in this well is comparable to wells evaluated in the original reserves study. The 4 ½” production casing has been run into the well. Further completion on Francis Grace # 1 is ongoing.
Drilling is presently at 1500 feet on Hunter Wells #1. While evaluating the drilling samples, COO of Kentucky USA Energy, C G Collins has determined that the two formations in the upper part of the well have been encountered at a higher level than anticipated. If carried through to total depth, this could be very positive. In addition, the drilling rig has rigged up and spudded-in on the Slinker #1B well.
“We are very encouraged by the early indications we have received,” Steven Eversole, CEO of Kentucky USA Energy commented. “We anticipate the positive indications of the Francis Grace #1 to be carried into production. As we drill and complete the next few wells, the Company will begin the next phase of our operation, which is to lay the gathering system, tie-in the wells and commence gas sales to a major purchaser.”
Headquartered in London, KY, Kentucky USA Energy, Inc. engages in the acquisition, exploration, and development of oil and natural gas resource properties, with a primary focus on New Albany shale gas in the Illinois Basin in western Kentucky. The Company is a growing independent energy company with the experience and technological expertise to develop its gas resources in the Illinois Basin’s New Albany Shale.
Kentucky USA Energy, Inc. Steven Eversole, 606-878-5987 CEO or Investor Relations: Corporate Evolutions, Inc. 516-482-0155 Toll Free: 877-482-0155 email@example.com
Source: Kentucky USA Energy, Inc.