Young Oil's 20th Successful Knox County Gas Well Blows In

Young Oil Corp.

The Young Oil Corp. said Friday that it has drilled in its 20th commercial gas well in Knox County, Ky., without a dry hole.

The new well, the Elvis Farris #1, came in flowing natural gas from the Big Lime formation at a depth of 1,212 feet.

"We were blowing so much gas that we couldn't safely pull the drill pipe out of the well," said Anthony Young, Young Oil’s CEO. “We tried to kill the well, so we could retrieve the drill pipe, but an attempt by a service company to pump 7,500 gallons of weighted fluid in the hole was unsuccessful. The well blew the fluid out of the hole. Because of safety concerns, we moved the drilling rig off the well, leaving the drill pipe in the well. We will produce the well through the drill pipe until it stabilizes.”

"This well will be selling gas into the Delta Pipeline system near London, Ky., within the next week to 10 days,” said Young. “We will produce it on a choke at a rate of about 10 percent of its IP (initial production) of 6.9 million cubic feet of gas a day."

All 20 successful gas wells, including the Elvis Farris #1, were drilled by DrillPro of London, Ky. Young Oil Corp. owns 100% of the working interest in the wells.

"We have a large lease position in this area and plan to continue developing this gas field with DrillPro over the coming months and years," said Young.

In addition to developing this new Kentucky gas field, Young is developing a 3,700-acre natural gas lease in Fentress County, Tenn.

Young Oil Corp. 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. In 2002, Young had the best productive well to dry hole ratio in the state of Tennessee.