Ryland Oil Updates Saskatchewan Drilling Program
Ryland Oil Corporation provides an update respecting its exploration drilling program on its 300,000 plus acres of Crown leases and licenses in southeast Saskatchewan. Late in 2007 the company commenced drilling of both a vertical well in the southeast region of its property and a more centrally located horizontal well. Both of these wells have been cased and are currently being completed and tested in multiple horizons.
The company is also continuing testing of its three initial wells completed on the northern half of the acreage holding. In addition, it is reworking the wellbore acquired from Jadex Energy Ltd. in an attempt to establish commercial production from its current productive zone as well as evaluating further upside potential from other prospective zones.
Two additional wells are in the planning and permitting stage with an expected spud date in May, 2008. These wells are expected to further define the potential in the central area of the acreage position.