San Telmo Energy Spuds New Well at Teepee Creek

San Telmo Energy reports that a well at its Teepee Creek Property 8-3-74-4w6 in Canada has been spudded. This is the first well in the Teepee Creek development program, and is owned 100% by the company.

The well is expected to take approximately 10 days to drill to a target depth of 1650 meters (5413 feet), followed up by a potential testing program.

Total production at the company's two Teepee Creek wells during the last two months averaged 113 boe/day.

During this time, new downhole equipment was being installed which resulted in considerable down time. Based on actual hours of production for May and June, the wells are capable of producing approximately 204 boe/day.