IRVING, Texas, March 15, 2011 /PRNewswire/ -- Breitling Oil and Gas Corporation, an independent exploration and production company based in Irving, Texas, announced today that it has spud the Breitling-Magnolia #1, the first of 2 wells in its Breitling-Magnolia prospect in Pottawatomie County, Oklahoma. The first well, the Magnolia #1, is targeting the Wilcox and Simpson Sand. Secondary objectives include the Hunton Lime at 4175', Earlsboro Sand at 3625', the Misener at 3975' and the Viola at 4125'. The primary objectives of the Magnolia #2 are the Wilcox Sand at 4500', the Simpson Sands at 4400' and the Hunton at 4175'. A secondary objective includes the Earlsboro Sand at 3625'.
The proposed wells are located within a 240-acre closure mapped at the Simpson and Wilcox Sands and the Hunton Sand at above an estimated total vertical depth of 4,500 feet.
"This is a developmental shallow oil play with low geological risk," said Joe Simo, Chief Geologist for Breitling Oil and Gas.
Management anticipates the first well will reach total depth in about 8 days and the same drilling rig will immediately begin to drill the Magnolia #2. Well completion and testing on the first well should begin during the last week of March 2011.
Breitling Oil and Gas CEO Chris Faulkner stated, "Our sub-surface maps show a good structural ridge with isolated closures present for the Hunton, Wilcox and Simpson Sands." Faulkner added, "We have good well control in the area for these sands and if we find the Misener on the acreage it's a big bonus."
Breitling has current oil and gas exploration projects all over the United States.
For more information on this and other activities of the Company, see the Breitling Oil and Gas website at http://www.breitlingoilandgas.com
About Breitling Oil and Gas Corporation
Breitling Oil and Gas was founded in October 2004 to apply state-of-the-art petroleum and natural gas exploration and extraction technology to the development of onshore oil and natural gas projects. Our focus areas include Texas, Oklahoma and Louisiana. Breitling offers oil and gas investment opportunities through direct participation programs and oil and gas investment joint ventures which enable investors to participate in the potential cash flow and unique tax benefits associated with oil and gas investments. Especially important in a downturned economy, oil and gas investments allow savvy investors to diversify and reinforce their investment portfolios with a stable commodity that is in steady demand.
Director of Public Relations
Breitling Oil and Gas Corporation
SOURCE Breitling Oil and Gas Corporation