CRCL Forges Ahead on New Well
FORT WORTH, Texas--(BUSINESS WIRE)-- Circle Star Energy Corp. (OTCBB: CRCL)provided an operational update regarding their first operated well in Trego County, Kansas. The well has reached target depth and pipe has been set. Based on electric log analysis, the well has encountered several oil bearing reservoirs and will provide the company with multiple stacked pay zones that may provide hydrocarbon production.
CRCL CEO Jeff Johnson stated, "Based on the results seen during the drilling of the well, we are anticipating good things and look forward to the well's completion."
Trego County is the site of several major oil discoveries since the 1920s; in its history, the area has cumulatively produced 66,787,369 bbls. CRCL operates the well and owns a 25% working interest and a 20% net revenue interest until payout in the Trego County well. Upon payout, CRCL will convert to a 43.75% working interest and a 35% net revenue interest after payout.
About Circle Star Energy Corp.
Circle Star Energy Corp. is a performance-driven exploration & production company that is developing exposure to high-impact, large scale oil & gas plays via operated and non-operated positions; while establishing and building a base of low-risk, solid return and operated working interests.
CRCL is continuing its efforts in expanding its exposure in Northwest Kansas, which is also being pursued by other energy industry participants such as Chesapeake Energy Corp. (NYS: CHK) , Encana Corp. (NYS: ECA) , SandRidge Energy Inc. (NYS: SD) and Apache Corp. (NYS: APA) .
For more information on CRCL's unconventional resources initiative, please visit http://www.circlestarenergy.com/investors/stock-information.
For further information, news and updates, visit Circle Star Energy:
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KEYWORDS: United States North America Kansas Texas
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