Eagleford Energy Inc., Toronot, (OTCBB: EFRDF) reports that it has been notified by Dawsey Operating LLC, a Texas-based engineering and consulting firm, that the rig allocated to drill an initial test well on the company's Matthews lease in the Eagle Ford oil window of Zavala County, Texas, will begin drilling Oct. 14.
The company intends to drill vertically through the Eagle Ford and log key formations including the San Miguel sands, the Austin Chalk and the Eagle Ford shale. After logging, the well will be drilled approximately 4,000 feet horizontally through the Eagle Ford shale formation. The Matthews Lease comprises 2,629 acres of land and is situated adjacent to the Redhawk land block under development by Petrohawk Energy Corp. (NYSE: HK).
Eric Johnson, vice president, Operations, at Dyami Energy LLC, a Texas-based subsidiary of Eagleford Energy, says, "Our primary target is the Eagle Ford shale. Petrohawk has reported 355 barrels a day of oil production from its horizontal well on the property next door. We also plan to run tests on the San Miguel formation to gather important petro-physical data on the significant amount of heavy oil in place."
Eagleford Energy's consolidated working interest in the well before payout is 85% (69% working interest after payout).
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