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Junior completes third oil well in week

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August 24, 2007 - 3:52PM
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Junior Westralian Gas and Power Ltd has racked up three producing oil wells at its Carter lease in Kentucky in the United States this week.

The first well was completed on Monday, followed by the second on Thursday, and the third on Friday.

The wells tap into the Granville Sand, which is known to produce oil in the range of five to 10 barrels per day, with the occasional well producing more than 30 barrels per day.

The company works to a concept of `oil farming', whereby it gains steady cashflow from several small wells.