More to consider...really, it's worth a punt.
As previously announced, drilling of the first well has already been completed. It is now awaiting a pipeline connection. In addition, the Company is hereby announcing that the Pennsylvania Well # 2 has been spudded and the drilling was completed and casing set on October 23, 2005. The well is expected to produce natural gas from three regionally producing reservoirs. The well has been logged, and completed, and is now awaiting a pipeline connection.
Separately, Aztec says that Pennsylvania Well # 3 has been spudded and the drilling was completed to its target depth. The well has also been logged, and the well is expected to produce natural gas from three regionally producing reservoirs. The well has been completed and is also awaiting a pipeline connection.
In addition, Aztec also reports the Pennsylvania Well # 4 has been spudded and the drilling was completed to its target depth. The well has been logged, and the well is expected to produce natural gas from three regionally producing reservoirs including one not considered productive in the first three wells. The well has been completed and is also awaiting a pipeline connection.
"The Pennsylvania drilling program that Aztec has invested in and continues to invest in is exceeding our expectations," said Kirk N. Blackim, president of Aztec Oil & Gas. "Clearly the operator is making progress in drilling. We are seeing results that exceed, or which are very consistent with, the completion success rates, estimated reserves per well and future production potential that was projected when the investments were made. As we have previously noted, this region in Pennsylvania has proven to hold significant reservoirs of natural gas and has produced commercial wells in approximately 80% of the wells drilled thereby providing low downside risk."
This is one of the most prospective areas for natural gas exploration. It's worth a look.
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