"We encountered productive horizons in the Big Lime and Devonian Shale on the Koppers South 34B and 38B, with total depths to 3720 feet and 3600 feet, respectively," said Deloy Miller, CEO, Miller Petroleum. "We have run production casing and expect to perforate the pipe and stimulate these wells within the next 10 days. Based on the results of these first two wells, we are planning to continue our development of this prospect."
Koppers South is expected to produce hydrocarbons from the Mississippian-age "Big Lime" formation and the Devonian-age "Chattanooga Shale" formation. The company has already established oil production on the eastern portion of this lease and has now established the presence of natural gas on the western section.
"We have an excellent land position in this area with contiguous acreage as well as an excellent contract for the sale of our gas," noted Miller. "Now that the first commercial wells have been drilled, we look forward to an aggressive development of this property. We anticipate that the production income will add significantly to our cash flow."
Miller Petroleum, Inc. is a publicly traded, fully integrated, gas and oil exploration and production company with headquarters in Huntsville, Tennessee.
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