Marksmen Energy Inc. announced that Marksmen and its Joint Venture Partner, Houghton Investments LLC, completed the third well of its drilling program June 6. The well was drilled to total depth May 28. The completion process included setting of production casing, perforating in the targeted Cambrian Knox formation, and acidizing of the well. During the completion process the well flowed oil to surface. The well will be tied-in and put on production in the next few days. Marksmen has a 100-percent working interest before payout and a 90-percent working interest after payout in this well.
Marksmen will commence drilling operations on its fourth well today and it should take approximately two weeks to drill, complete and tie-in. Completion work including perforating and acidizing on the second well drilled to total depth in the targeted Cambrian Knox formation in late May will be completed early this week.
The Company has applied for drilling permits on an additional seven well locations. A drilling schedule has yet to be determined.
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