Lexington Completes Seismic Testing on Gilbert Barnett Shale Leases
Lexington Resources has completed the field gathering testing phase of a 3D seismic program on its 1,211 contiguous acre Gilbert lease located in Palo Pinto County, Texas with TimeSlice Technology Inc. of Texas. The processing phase now begins to process geologic data on Barnett Shale gas and possible secondary gas targets on this lease with results due before month end.
The Company's 100% working interest in the Gilbert lease can support up to
10 horizontal gas wells on 120 acre spacing, so the information obtained will
aid in the development of engineering and geological planning for drilling
operations and help lower risks associated with drilling. The testing will
also decrease future costs and help in the planning of economic sharing of
fracture pit locations, compression, gas treatment, and gas transportation
infrastructure. In addition, shallow gas production in the area from the
Strawn formation may also be identified as a secondary gas producing target
from the 3D seismic testing.
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