Doxa Energy Ltd (DXAEF) 0.0010 $DXAEF
Doxa Provides Operational Update
Marketwired - Fri Feb 06, 3:32PM CST
Doxa Energy Ltd. (TSX VENTURE: DXA)(OTC PINK: DXAEF)(FRANKFURT: 5D0) ("Doxa" or the "Company"
today announced that it completed the exploratory drilling program previously announced for 2014. The program included initial test wells drilled on three different conventional oil & gas exploration projects in southern Texas. Two of the projects, situated in Duval County, Texas, were focused on the Queen City formation at depths above 6,500' subsurface. The first of these, being the Longoria No. 1, was drilled to a total depth of 6,375' and encountered possible pay in the Queen City and therefore production casing was run and cemented, and the well tested. Results of the test yielded minor oil and gas production, although with more water influx than expected and therefore the well has been shut-in. Further operations may be undertaken at a later date subject to further engineering evaluation, a more favorable oil and gas price environment and acquisition of a reasonable pipeline hook-up and gas marketing agreement. The BFMT No. 1, being the second Queen City test, was drilled to a total depth of 6,047' logged and deemed a dry hole, as no commercial pay was encountered in the well. The third exploratory well, being the Rogers No. 1 drilled in Jackson County, Texas to a depth of 11,650', yielded marginal pay in the expanded Yegua formation. The well was completed in mid-2014 and is currently producing 160 MCFD and 5 BOPD. In addition to the foregoing exploratory efforts during 2014 the Company participated in an unsuccessful fourth well on the Sarco Creek project in Goliad County, Texas. No further operations are currently planned on the above described projects. Doxa's level of participation in the two Queen City projects were 20% and 30.5% respectively, 4.5% in the Jackson County venture, and 18% in the Goliad County well.
DXA.VN: 0.010 (+0.005)
Doxa Provides Operational Update
Marketwired - Fri Feb 06, 3:32PM CST
Doxa Energy Ltd. (TSX VENTURE: DXA)(OTC PINK: DXAEF)(FRANKFURT: 5D0) ("Doxa" or the "Company"
today announced that it completed the exploratory drilling program previously announced for 2014. The program included initial test wells drilled on three different conventional oil & gas exploration projects in southern Texas. Two of the projects, situated in Duval County, Texas, were focused on the Queen City formation at depths above 6,500' subsurface. The first of these, being the Longoria No. 1, was drilled to a total depth of 6,375' and encountered possible pay in the Queen City and therefore production casing was run and cemented, and the well tested. Results of the test yielded minor oil and gas production, although with more water influx than expected and therefore the well has been shut-in. Further operations may be undertaken at a later date subject to further engineering evaluation, a more favorable oil and gas price environment and acquisition of a reasonable pipeline hook-up and gas marketing agreement. The BFMT No. 1, being the second Queen City test, was drilled to a total depth of 6,047' logged and deemed a dry hole, as no commercial pay was encountered in the well. The third exploratory well, being the Rogers No. 1 drilled in Jackson County, Texas to a depth of 11,650', yielded marginal pay in the expanded Yegua formation. The well was completed in mid-2014 and is currently producing 160 MCFD and 5 BOPD. In addition to the foregoing exploratory efforts during 2014 the Company participated in an unsuccessful fourth well on the Sarco Creek project in Goliad County, Texas. No further operations are currently planned on the above described projects. Doxa's level of participation in the two Queen City projects were 20% and 30.5% respectively, 4.5% in the Jackson County venture, and 18% in the Goliad County well. DXA.VN: 0.010 (+0.005)
