Victory, through its partnership with Aurora Energy Partners, announced its oil focused North Killarney wildcat well in Mississippi was spud on Sunday, October 16th, 2011 and drilling was last reported to have reached 500 feet.
During the next seven to ten days the Armstrong "NK" #1 test well will be drilled to target depth and then tested for hydrocarbons. The target sand is the McKittrick (Wilcox), with the Sparta being a secondary objective. The McKittrick Sand has high permeability and porosity and can contain as much as 550 barrels of oil ("BO") per acre foot of reservoir, giving the prospect location a maximum potential reserve of 1.5 million BO at a depth of 6,400 feet.
The Adams-Wilkinson County basement is a controlled oil producing trend located in the heart of the prolific Wilcox Oil Province, which has produced almost 1 billion barrels of oil from Tertiary age sediments. The North Killarney prospect is located between the Killarney Field (956,000 BO) to the south, and the West Carthage Point Field (450,000 BO) to the north.
The Company owns a 5.25% working interest and a 3.938% net revenue interest in the North Killarney oil prospect. The prospect is located in Adams County, Mississippi.
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