Energas Resources will drill the Carothers #1 well in the Rock Creek Prospect, Harper County, Kansas. This first well in the prospect will be drilled to approximately 4,500 feet to test the Mississippi Chat and the Mississippi Dolomite formations. The Company will be carried for 18.75% working interest to the tank and pipeline on this first well. Construction of the drilling location will begin next week and then the drilling rig will move on to the location, weather permitting. This prospect is located in the westside of the Stohrville Field, which has produced over 11 BCF of gas and over 1 million barrels of oil. The Company has 1,350 acres leased in this prospect and, if this well is successful, the geologist estimates a potential to develop 10 to 15 wells.
Drilling of well #7 in the Kentucky Project has taken longer than expected due to needed rig repairs and modifications. The rig is now running smoothly and drilling of well #7 is expected to be finished this weekend.