Nitro Petroleum has retained Ramsey Engineering, a petroleum engineering firm in Oklahoma City, to conduct an engineering survey on its 10 well drilling program in the Powder River Basin of Montana. Nitro is the operator of this project. The purpose of the study is to identify and advice on a possible seismic surveys and to further advice on the optimal drilling locations. The engineering survey will enable the company to proceed with minimum financial risk and to focus on the pre-eminent drilling targets. The survey has already started and will be completed late April or early May.
Larry Wise, President of Nitro, stated, "This project is gaining momentum: we are in the final stages of completing our bonding and permitting phase; the engineering survey will narrow our focus in a large land package and will advice us on the best way to proceed to the drilling phase. Nitro is in position to add substantially to it production and reserves."
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