Alamo Energy has entered into a five-well drilling program with Boardman Energy Partners, LLC on its 55-acre lease within the Gradyville oil field in Adair County, Kentucky.
The Gradyville oil field is located in southcentral Kentucky. It extends northwest to southeast and covers portions of the Columbia and Gradyville areas. Several hundred oil wells have been discovered and produced in this field; the discovery well -- known as "Willie Nell" -- was drilled in 1969 and has been producing commercially for over 43 years. Kentucky Geological Survey states that many of the wells in this area have produced consistently at initial rates of 100-200 barrels of oil per day (BOPD) out of the Murfreesboro and Knox formations.
Allan Millmaker, Chief Executive Officer of Alamo Energy Corp., commented, "We are delighted to have concluded this deal in this highly sought-after area. The decision to drill these five wells has been based on geology gleaned from the Kentucky Geological Survey (KGS) together with hydrocarbon predominance data that has been collected over a nine-month period."
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