TN-K Energy Group Inc. obtained the first permit to commence drilling operations on the Americas Energy Company - AECo checkerboard acquisition. This will be the first well of a 10 hole package that will be drilled on the JR Clark lease in the Exie Quadrangle in Green County Kentucky. TN-K Energy will own 20% net interest of each well location and will be the operator of the wells. Americas Energy Company will own 27.5% net interest of each well location. It is anticipated that drilling operations will commence within the next five days or less, weather permitting.
"I am very excited to begin drilling this acquisition. This checkerboard acquisition has great potential to be very profitable to all parties involved," commented Ken Page, President and CEO of TN-K Energy.
Chris Headrick, CEO of Americas Energy Company, also stated, "We are very excited to be working with TN-K Energy on drilling this 10 well package. We have a great amount of confidence in their ability and knowledge of the oil and gas industry." Mr. Headrick further commented, "This is a great opportunity to improve our oil production due to the high potential for success in drilling on the proven and high producing JR Clark lease."
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