Striker Oil & Gas has successfully drilled its third well on its Catfish Creek Prospect located in East Texas. The third well was drilled to a total depth of 10,815 feet to test the Bacon Lime and Gloyd sections of the Rodessa and the Pettit formations. The well has been logged and net feet of potential pay in all three zones approximate 26 feet.
This prospect consists of over 9,000 gross acres with depths earned to 100 feet below the base of the Pettit formation. Full development of this prospect could result in 20 to 40 wells. Striker has approximately 33% working interest before payout (25% after payout) on this prospect.
"We are happy that we have successfully drilled our third well on our largest prospect," said Kevan Casey, Chief Executive Officer of Striker. "We expect to begin the completion phase of this well within the next 30 days at which time we will attempt a completion in the Pettit gas zone."
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