Alamo Preps to Complete WVIC Well

Alamo reported that following the successful completion of the Goose Creek #4 well, Alamo has commenced preparations to complete the WVIC D-12 well.

Preparatory work including the completion of an 8,000bbl containment pit, installation of two 100bbl oil storage tanks and delivery of 3,000 ft of production tubing and rods will minimize the time to commence fracing operations but also the time to bring the well online upon completion of a successful frac.

The WVIC D-12 well is located on the Eco Forrest Lease which includes approximately 493 acres. Alamo's objective is to increase oil production that started over two decades ago from the lower Huron Shale.

This re-entry recompletion program is aimed at the Squaw, Lower Big Injun, Upper Big Injun, Maxton and Devonian Shale formations with a three-stage 8,000bbl frac. The land to resource ratio enables 25-acre spacing, which we believe will allow for up to 14 additional wells.

Allan Millmaker, Chief Executive Officer, said, "Driven by the results from our Appalachian Basin to date, we are accelerating our investment in the area by undertaking back to back re-completions as we continue our program in the region."