Phere Energy Inc. Oil and Gas Announces Spud of West Ranch IX Drummond 3M #2 in Jackson County, TX

RICHARDSON, Texas, Nov. 13, 2012 /PRNewswire-iReach/ -- Phere Energy Inc., an independent oil & gas exploration & production company based in Richardson, Texas, announced that it has spud the West Ranch IX Drummond 3M #2 on November 13, 2012 in Jackson County, Texas.

The West Ranch IX Drummond 3M #2 is scheduled to be completed in one of eleven identified pay zones confirmed by geology and core samples.  The West Ranch IX Drummond 3M #2 is a 8,000-foot test well targeting the Frio Sands that includes but is not limited to the Glasscock, Ward, Mitchell and other prolific sands in the 6,000'- 8,000' range.   

Phere Energy Inc. Oil and Gas Exploration CEO Todd Lanphere stated , "We have good surrounding production from the West Ranch field with over 300million barrels produced since its discovery in 1938. We are confident we have good acreage position here in Jackson County and will see great success."

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 Inc. 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.

Media Contact: Joseph Bowens Phere Energy Inc., 972.231.1679, JosephB@phereenergy.com

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SOURCE Phere Energy Inc.

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