Drilling on hole number 3 (Derek 1-3), also in the Smokey Gap field in Wyoming, has reached 1100 feet to date and is expected to reach total depth of approximately 1400 feet within days.
The Smokey Gap Field is located on the western flank of the Powder River basin in Wyoming, USA. Bolero has obtained an option to drill five wells which are permitted and located within a currently producing oil field. Bolero will earn a 50-per-cent working interest in each well by spending $50,000 (U.S.) per well and to date has successfully drilled 2 wells.
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