"We have drilled the third commercial well and encountered productive horizons in the "Big Lime" and "Devonian Shale" on the Koppers South 36B, with a total depth of 3250'. Production casing has been run and we expect to perforate the pipe and stimulate the well in the near future. Based on the geology and electric logs, this well and the two previous wells has confirmed the existence of a gas field in which the width and length will be determined by our continued drilling and development. We expect the existence of many wells," said Deloy Miller, CEO, Miller Petroleum.
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. Now that the first commercial wells have been drilled, we look forward to an aggressive development of this property," noted Miller.
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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