Universal's Lake Campo Prospect Encounters Gas Shows
Universal Energy says that its Lake Campo, W. Rosedale and East OMG prospects drilling is progressing at the following depths (planned depths of wells in parenthesis):
-- Lake Campo - 9,100 feet (10,540)
-- W. Rosedale - 7,000 feet (10,040)
-- East OMG - 3,600 feet (16,500)
Progress is continuing at Universal Energy's East OMG prospect as casing is currently being installed to a planned depth of 3,600 feet. Additionally, the company currently anticipates completing drilling at its W. Rosedale prospect ahead of schedule.
The most exciting news comes from the analysis of daily reports from the Lake Campo prospect. This analysis provides an excellent indication as to the overall success of the prospect. During drilling, gas has been encountered in multiple zones previously identified by the 3-D seismic report of the prospect. These encounters are excellent indicators as to the success of the prospect.
"Exactly as we expected," commented Billy Raley, Universal Energy Corp. CEO when asked about the preliminary results of the Lake Campo prospect. Raley continued "Encountering hydrocarbons where you anticipate them is always a good sign."
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