Phere Energy Inc. Announces West Ranch IX Drummond 3M #2 Completion Update
Phere Energy Inc. Oil and Gas Exploration, an independent exploration and production company based in Richardson, Texas, is pleased to announce it has received a preliminary report of the initial flow testing of the West Ranch IX Drummond 3M #2 in Jackson County, Texas, one of the deepest potential pay zones on West Ranch IX.
RICHARDSON, Texas, Nov. 28, 2012 /PRNewswire-iReach/ -- Phere Operating Inc owner Todd Lanphere is happy to announce the fourth new well in the West Ranch field. This well has 10 potential payzones from 5400-8000 feet. Our first Initial test was over 100 barrels of oil and 56 mcf per day from the 7650 +/- pay zone. There is no other well producing from this depth in the immediate area. This opens up the other 1/2 of our lease. Clifford Boaz and myself elected this pay zone because of the surrounding production from Hilcorp as well as the geological data obtained from our Exxon Mobile records on file. The Core Labs Percussion sidewall core analysis correctly identified the 42*API oil with 715-1000 MD of Permeability. This makes this a new field discovery and allows us to continue to develop the rest of our acreage.
For more information on this and other activities of the Company, see the Phere Energy Inc. Oil and Gas website at http://www.phereenergy.com/. Phere Energy has current oil and gas exploration projects throughout Texas. Opportunities for new projects started in October 2012.
About Phere Energy Inc. Oil and Gas Exploration
Phere Energy Inc. has over 20 years of experience employing the latest technology to develop new production as well as develop new plays on reworking fields. Phere Energy Inc. participates in the development of fields in the oil & gas industry throughout the entire state of Texas offering oil and gas investment opportunities through investment joint ventures and direct participation programs. These programs provide the opportunity for investors to potentially take advantage of unique tax benefits and potential cash flow through oil and gas investments. By tapping into our nation's natural resources, Phere Energy Inc. strives to help our country become energy independent.
Phere Energy Inc.
SOURCE Phere Energy Inc.
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