Doxa Completes S. Tx. Well

Doxa announced the successful completion of the previously mentioned Kynette No. 1 well, a naturally completed Wilcox formation gas-condensate well on the County Line North Project, McMullen County, Texas.

This is the Company's second well in the general area, the first being the completion earlier this year of the Martin-State Gas Unit No. 1 well on the County Line Project. The Kynette No. 1 well is located approximately two miles north of the initial well. Hurd Enterprises, Ltd. of San Antonio, Texas, is the designated Operator of both projects.

After drilling the well to a total depth of 10,250', 4-1/2" casing was run and cemented and the well was initially completed in a lowermost pay interval below 10,000'. The well flowed naturally at a rate of 3,300 MCFPD and a show of condensate with 5,800 psi flowing tubing pressure. Production and pipeline facilities are currently under construction and once completed,
the company will release additional details. Doxa owns a 16.7% working interest before payout, reverting to a 12.5% after payout, and expects its share of the project cost to total approximately $900,000.

John D. Harvison, President and CEO of Doxa, reiterated that, "The performance of this well continues to validate our team's analysis of this area for prolific Wilcox hydrocarbon potential."