"We are pleased to have another successful well to begin 2005, as natural gas demand and pricing remains strong," notes Mark Weller, president of Pangea. "This is a multi-well project and we have at least one additional location to drill on the prospect, which should be drilled in the first quarter."
The San Patricio County, Texas project has been developed by American Shoreline Inc., of Corpus Christi, based on 3D seismic data and is targeting channels present in the Miocene sands. Pangea has a 4.25% working interest and a 3.275% net interest in the prospect.
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