Valkyries Petroleum has spud the Alta Kenedy Foundation #2 well in Texas. This well is an updip appraisal to the discovery well on the Mustang field which is currently producing 250 mcfg per day from the Queen City sandstones. From analysis of the 3D seismic it appears that the well will be approximately 75 to 100 feet structurally updip from this location. Information from nearby fields suggests that reservoir quality could be significantly enhanced and thus flow rates improved. The planned total depth of the well is 9,850 feet and is expected to take 3 weeks to drill and run electrical logs.