Fairchild to Begin 2nd Saskatchewan Drilling Program
|Monday, February 03, 2003
Fairchild International reports that due to the success of the first ten test oil wells drilled on the Kerrobert properties in Saskatchewan, Canada, and to take advantage of current oil prices, the next phase of drilling is now scheduled to begin in March. The second phase of drilling will again be a 10 well project with all the wells expecting to encounter the same success as the test program. Initial oil production from the first ten wells is 30-35 bopd per well with an expected well life span of approximately 15 years.
The company also reports that it is in final due diligence stages of the recently announced gas exploration project also located in Saskatchewan.