The first large well to be drilled on a PIP-located site for Eldorado is expected to start drilling in Texas on June 15th, 2006. The second well in New Mexico will drill soon after in July. Additional wells will depend on rig availability.
Eldorado Exploration, Inc. is an independent oil and gas company that utilizes a process called Passive Induced Polarization, "PIP," to detect electromagnetic signals given off of some geological anomalies. In most cases a positive response indicates a hydrocarbon accumulation and a negative reading almost is always a dry hole. When used with the standard geological tools and methods, the PIP process enhances the odds of success for discovering oil and gas. Stable Resources LLC has recently completed a gas well discovery in Runnels County, Texas, using the PIP process.
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