Young Oil Corp. Hits Two Big Tennessee Oil Wells

Young Oil has drilled in an oil well in Tennessee that came in flowing 150 barrels of oil a day (BOD) and treated a nearby well that began flowing oil during treatment.

The David Davis #1, located seven miles northeast of Livingston in Overton County in middle Tennessee, came in flowing when drilling reached 847 feet in the Sunnybrook formation.

The nearby Newberry Heirs #7 had only a show of oil when it was drilled in earlier this month. When Young Oil treated the well with acid, the well began flowing at a rate of 75 BOD. The well is producing from the Sunnybrook formation at a depth of 946 feet.

"We traditionally acidize a Sunnybrook well to stimulate oil production if we see a show of oil during drilling," explained Anthony Young, Young Oil CEO. "Usually following treatment we have to work on the well for hours or even days to bring the oil to the surface. In this case, the well began flowing while we still in the early steps of treating it with acid."

Both wells are within three miles of a December 18, 2003 discovery by Young of a new shallow Fort Payne oil field. That well, the Lucy Newberry #1, came in flowing 50 BOD from the shallower Fort Payne formation at a depth of 325 feet.

Young owns a large lease position in the area and plans additional oil exploration and development.

In addition to developing these new Overton County oil fields, Young is developing a 3,700-acre natural gas lease in Fentress County. The firm has drilled some six Monteagle natural gas wells, built a gas gathering system and is currently testing and fine-tuning the system. Gas sales are expected to begin later this month. Young plans to drill an addition 24-40 more wells in the Gernt gas field.

Young Oil Corporation is a privately owned oil and gas exploration and production firm, with operations in Kentucky and Tennessee. Young utilizes its own drilling rig to drill all its wells. The Tennessee Oil & Gas Association named young Tennessee Oil Man of the Year in 1999. In 2002, Young had the best productive well to dry hole ratio in the state, with 57 producing wells out of 72 drilled.