Announcements galore pending - LOL. 10 wells to be spudded in July - coupla days to drill. I would expect a 100% hit rate in this shale. Shallow wells only required. Fully funded. It looks OK doesn't it. :)
"In another important development, the Company has successfully received approval from the Oklahoma Corporation Commission to space the continued development of East Oklahoma on 640 acres. We have a drilling company contracted and are now set to commence the next phase of development at East Oklahoma with the first new wells to be spudded within ten days. Drilling will continue throughout July, and the Company remains on track to have ten wells drilled and completed by the end of July.
Red Fork Managing Director, David Prentice commented “We are very pleased to have ticked off two key steps in the development of this project, with success in the completion of multiple intervals and the spacing of the project on 640 acres. We are now in full swing with the development of this exciting project with drilling and completion underway, gas tap direct to interstate markets in place and first sales expected prior to the end of 2009”.
RFE Price at posting:
$1.07 Sentiment: Hold Disclosure: Held
