Results indicated that seven prospective oil and/or gas zones have producible reserves. Early results also indicate the possibility of a new unproduced gas zone at the shallow depth of approximately 7000 feet.
Upon review by a consulting geologist familiar with production characteristics in the area, the company followed advice to attempt completion in a sand present from 7676-7700 feet. Earlier this week the company perforated the zone from 7678 - 7682 so that it could be tested.
The first well reworked by the company continues and has already produced enough oil to pay 100% of the cost of the workover. Universal owns a 75% working interest in the Puckett Field, Mississippi and is partnered with Hawkeye Drilling Co.
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