Brian Conrad, Sigma Global's CEO, will be traveling to the SE Kansas site next week to oversee the bringing online of well 2A and discuss options on an additional lease near the company's current property. The company will perform its final due diligence on the lease and expects to update shareholders on this potential new addition to the company's portfolio of leases shortly thereafter.
The company would like to further announce that it will begin recompletion of a third well on the Company's current property. The well had previously lost pressure due to a crack or leak in the piping. The Company will begin the workover process shortly after well 2A has been brought online. This will bring a total of three wells online by the end of the first quarter. As previously mentioned, the company plans to begin drilling operations for two new additional wells in the first part of the second quarter.
Brian Conrad, Sigma Global's CEO, stated, "We have been working aggressively to increase our net production to an anticipated 50-60 barrels a day by the fourth quarter. I will also be in Kansas next week to witness our second well come online as well as work to close on an additional lease."
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