Signature E&P has released updated information about the drilling of its Koliba Prospect in Victoria County, Texas.
Steven Weldon, Chairman and CEO of Signature Exploration and Production Corp., stated, "The title opinion research has been completed and the attorney is satisfied that we have good title for the drill site and has given us his approval to begin drill operations. The well location has been surveyed and staked and we could possibly begin road and location work by the end of the week. We are excited about the Koliba prospect and the huge potential it represents for Signature Exploration and Production."
The Koliba Prospect is a 173-acre lease located in the highly productive North McFadden Field near Bloomington Texas. The Company has identified 3 target zones at 5,880', 5,350', and 4,930', in the Frio Sands. The Koliba Prospect will be drilled 250 feet from an originally large producing well and is considered a low risk / high reward prospect due to its proximity to previous wells in the prolific Frio interval.
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