Nitro Petroleum Incorporated is pleased to announce that it has initiated the permitting and bonding process for its 10 well program in the Powder River Basin in Montana. Nitro is the operator of this exciting project. The permitting and bonding process is expected to be done by the end of March, which would allow the 10 well drilling program to begin in late April or early May. The wells will vary in depth from 4350 to 7700 feet. The target is to drill at least 150 feet into the Tensleep Formation in each hole.
Larry Wise, President of Nitro, stated, "Historical production in the surrounding area has been very prolific; the Mann 1-18 and the Mann 8-18 have produced over 471,711 barrels of oil over the past ten years and are still in production today. With our proximity to these wells and with similar geological targets, we believe Nitro is in position to add substantially to it production and reserves."
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