Miller Energy Resources Initiates $25.5MM Drilling Program

Miller Energy Resources has initiated a $25.5 million drilling program on company leases in Scott County, Tennessee.

According to Miller CEO, Scott Boruff, "The drilling program consists of up to 16 horizontal wells and 14 vertical wells to test three reservoir targets, including gas in the organic rich Chattanooga shale. Secondary targets are the Mississippian Age "Big Lime" and the Fort Payne formation."

Funding for the program is via private placement memorandum. The managing Broker Dealer is Empire Securities Corp., Universal City California.