With four successful completions collectively capable of producing nearly 300,000 cubic feet per day, the Company is now proceeding with the acquisition of easements for the construction of a supplementary pipeline from its leasehold properties to the main natural gas transmission pipeline.
LiteWave Director and Drilling Superintendent, Gibb McGown, indicates that the fifth well will be spudded early this coming week, also within Bourbon County.
LiteWave is continuing its acquisition of leasehold acreage in the region, having added a further 500 acres for a total in excess of 1,000 acres. The Company plans to expand its leasehold base to at least 2,000 acres within the immediate region, and expects to commit to additional wells beyond the first five over the next two months.
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