Knight Energy Corp. has successfully completed the initial well on its 104-acre Cozart property in Eastland County, Texas. The well has been drilled, completed and fractured in order to enhance production.
Based on preliminary estimates, the Company believes that the well may have recoverable crude oil reserves of approximately 400,000 barrels. This is an estimate; actual results may vary significantly. Knight is in the process of bringing the well into production as quickly as possible.
William J. Bosso, Chief Executive Officer of Knight Energy Corp., commented, "We are very excited about our success on the Cozart lease and our plans to drill two additional PUDS on the lease."
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