Texola: Chinchaga to Spud by Mid-December
Texola Energy Corp. said that drilling on the Chinchaga well (8-24-95-8W6) in Northern Alberta will commence by December 15, 2006, and will take approximately 18 days to reach final depth. Texola owns a 10% interest in Suncor Energy's Chinchaga prospect. Eden Energy Corp. holds a 50% position and Suncor retains a 12.5% gross overriding royalty.
The parties have also identified the drill locations for their second and third wells, both of which are expected to be drilled before spring break up 2007. In addition, the operator of the prospect is proceeding to survey the pipeline location for future tie in of the wells.
Texola is an emerging, growth oil and gas exploration company focused on providing exceptional shareholder value and appreciation by finding, exploring and developing large-scale, early stage oil and gas projects in North America. To achieve this goal, the company has recently undertaken various exploration initiatives, one of which is an early stage exploration prospect in Nevada. The second is located in Northern Alberta, Canada. Both of these projects offer the company the potential to exploit and develop large, world-class reservoirs.
- Suncor Works with Alberta Govt to Mitigate 'Unintended Consequences' (Dec 14)
- Canada's Output Grows Despite Pipeline Problems (Nov 28)
- Suncor Energy CEO to Retire Next Year (Nov 15)
Company: Eden Energy more info
- Eden Energy Spuds Noah (Mar 27)
- Eden Energy's White River Dome Field in Colorado Gets 2 Wells for New Year (Jan 02)
- Eden, Partner to Drill at Nevada Prospect (Apr 09)
Company: Texola Energy more info
- Texola Energy to Begin Drilling at Chinchaga Prospect in Northern Alberta (Nov 26)
- Texola Looks to Buy Calgary-Based Junior (Nov 03)
- Texola: Chinchaga to Spud by Mid-December (Aug 10)