TARGET ENERGY LIMITED, a petroleum exploration and production company with a particular focus on the hydrocarbons market in the USA, specifically Texas and Louisiana.
Target Energy has had a highly successful first 18 months of operation, with five of its eight wells drilled to date having been put into production and a sixth expected to be completed as an oil producer.
On 30th June 2008, Target Energy was pleased to announce that wire line logging of its East Chalkley oil appraisal and development project indicated the presence of oil pay.
Target Energy’s Managing Director, Mr. Laurence Roe said: “This is a highly attractive opportunity, with the first well drilled confirming the presence of oil. We will now complete and flow test the well and the results will determine our next move.”
In a busy schedule, the Company plans to drill four additional wells before the end of 2008.
If you are interested in learning more about Target Energy’s prospective project portfolio, click here: www.targetenergy.com.au
TEX Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held
