Sun Cal Energy Inc. Provides Update on a Third Deep Development Well on Its Hobart Prospect in Washita, County, Oklahoma
Sun Cal Energy Inc., an energy exploration company focused in the Southern San Joaquin Valley of California, the Anadarko Basin of Oklahoma, the Breton Sound of Louisiana and the Green River Basin of Wyoming is pleased to update its shareholders that Range Production Company filed applications and obtained spacing and pooling orders for a third well on Sun Cal Energy Inc.’s Hobart Prospect in Oklahoma.
Filed before the Corporate Commission of the State of Oklahoma, Range Production Company applied to establish 640- acre drilling and spacing unit and pooling orders in Section 14, Township 8 North, Range 18 West in Washita County, Oklahoma. Such applications are a normal precursor to filings of Intents to Drill and the subsequent commencement of operations. With a target depth of 19,800 feet, the estimated completion costs for the deep development well are estimated at $12,245,000.
Commenting on these developments, Lewis Dillman, President and CEO of Sun Cal Energy, Inc., states: “We are excited that the Hobart Prospect continues to gain the attention of major operators such as Marathon Oil and Range. This area is becoming very active, and with the successful drilling and commercial results of our 1st two wells in Oklahoma, the Sturgeon 1-11 and Cunningham 1-02, and the 1st well in the 83/84 prospect in West Texas, we believe that our acquisition strategy is being validated.”
Sun Cal Energy Inc owns a 1.5% gross overriding royalty interest in the 1211 acre Hobart prospect strategically located in the Anadarko Basin and part of the Springer Morrow play – the largest such play in the State and Mid-Continent. Key players running rigs in the immediate area include Marathon Oil, Chesapeake Energy, and Range Resources.
“We intend to continue to build on these successes, and also provide our shareholders the opportunity to share projects in North America,” stated Lewis Dillman: “We will continue to look at opportunities to develop our other high impact California and Wyoming properties in the near future, and possibly enter into partnerships with key players already established in these areas.”
