Company President Grant Atkins states, "The newly acquired H-9 Prospect significantly expands and solidifies our land holdings and drillable gas target inventory to approximately 9,500 acres -- enough inventory for our immediate drilling season and well into next year. Our challenge is to increase the pace of drilling to grow Company cash flow and capitalize on gas target lands acquired. With three successful well completions during the last two quarters, our operational infrastructure is formed and becoming very efficient. We are confident that the additional drill targets provided by the H-9 will result in the development of successful new gas wells. Lexington will continue to acquire high value, low risk, gas drilling targets such as these in order to generate immediate revenues and create strong long-term value."
The Company is currently completing its third well, the Bryce #3-2, located on its Wagnon lease in Pittsburg County, Oklahoma.
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