The Company has drilled the Goodrich Petroleum Company, Ashby No. 1 well to a total depth of 10,784 feet and logged approximately 200 feet of net pay in the Cotton Valley formation, as well as additional apparent pay in the Travis Peak formation. This discovery is the Company's initial Cotton Valley well drilled on the Company's 15,000 gross acres owned in East Texas.
The Company, which owns a 100% working interest and is the operator of the well, has set production casing to total depth and anticipates production from the well to commence in the second quarter.
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