Eagleford Successfully Drills Vertical Portion of Matthews Lease Well
Eagleford has successfully drilled the vertical portion of its initial Mathews/Dyami 1-H well through the Eagle Ford shale formation and to a depth of 5,114 feet to the Del Rio formation on its 85% working interest (69% after payout) Matthews Lease comprising 2,629 acres of land in Zavala County, Texas. The Company has completed coring and logging key formations including the San Miguel sands, the Austin Chalk, the Eagle Ford shale and the Buda and is proceeding to drill the horizontal portion across the lower Eagle Ford shale formation.
Eric Johnson, VP Operations at Dyami Energy, the Texas based operating subsidiary of Eagleford Energy, stated, "We have hydrocarbon shows in each of the San Miguel, Austin Chalk, Eagle Ford shale, and Buda formations and substantial core sampling has been acquired for evaluation and sent to both Core Laboratories and Weatherford International."
The Company's Matthews Lease in Zavala County is situated adjacent to the Redhawk land block under development by Petrohawk. Zavala County, Texas and is part of the Maverick Basin of Southwest Texas and downdip from the United States Geological Studies north boundary of the Smackover-Austin-Eagle Ford total petroleum system. This area is often referred to as the oil window of the present Eagle Ford shale play.