KNOB LICK, Ky., Dec. 13 /PRNewswire/ -- The Young Oil Corporation
announced here today that it has drilled in 3 new oil wells, in as many
attempts, in Adair County, KY with a combined initial production potential
of more than 100 barrels of oil per day.
The 3 wells are located on the Danny Burris lease in the Gradyville
community about 7 miles west of Columbia, KY.
"We chose this series of sites because of the rich history of oil in
this general area and its geological similarities and proximity to the
Willie Nell well that has been reported to have produced more than $26
million worth of oil since 1969, and is still reportedly producing 14
barrels of oil per day," said Anthony Young, CEO, Young Oil Corp.
"We have a large lease position around these new wells and we expect to
drill many more successful wells in the area. We selected this area for
development because of the potential for production from both shallow and
deeper depths," Young noted.
"It looks like we may have another Norrod well in this field," Young
said, referring to the Richard Norrod #1 discovered by Young on March 9,
2007. The Norrod #1 came in flowing at a rate of 1,944 barrels of oil per
day from the Murfreesboro formation at a depth of 1400 feet.
Young has a history of finding the big ones, as noted in 2004 when the
eighth well in the Lucy Newberry Field was drilled in, it flowed for more
than 20 days at 1728 BOD and that field is still producing today.
Young Oil Corporation is a privately owned oil and gas exploration and
production firm, with operations in Kentucky and Tennessee. Young utilizes
its own drilling rigs as well as contract partners to drill all its wells.
The Tennessee Oil & Gas Association named Anthony Young Tennessee Oil Man
of the Year in 1999 and 2004.
SOURCE Young Oil Corporation