Posted on March 16, 2009.
Petromax Announces Successful Completion of Horizontal Oil Well
Production results meet company’s expectations on first Woodbine oil well.
Garland, TX, 3/16/2009 – Petromax Operating, Inc. announced today the successful completion of its Wilfred Dainty #1H Woodbine Oil well in Madison County, TX. PetroMax has spent over two years of reservoir analysis and geologic evaluation of the South East Texas Woodbine trend including the modeling of the early results of the horizontally
drilled woodbine wells in the trend. As a result of this research, Petromax spud on October 10th, 2008, it’s first horizontal Woodbine well, the Wilfred Dainty #1H. During it’s first few days of production on rod lift pump, the Wilfred Dainty has averaged 373 BOPD (Barrels of Oil Per Day). President Larry Crain is noted as saying: “We are very excited to get the results we have been waiting on and to know that the last couple of years of planning is paying off.” On the strength of these initial results, the company is moving forward with it’s exploitation plan in the Kurten Field of Madison County. The wells that are currently
under way include the Machac #1H (frac flowback stage), Miller #1H (drilling) and the Schiflet #1H (title curative stage).
FOR RELEASE 9 A.M. PST, APRIL 8TH, 2009
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