Daybreak Drills Two More Successful Wells in Kern County, California
SPOKANE, Wash., April 27 /PRNewswire-FirstCall/ -- Daybreak Oil and Gas, Inc. (OTC Bulletin Board: DBRM) ("Daybreak" or the "Company"), a Washington Corporation, is pleased to announce the successful drilling of two additional wells at its Bear Prospect at the Company's East Slopes Project in Kern County, California.
Bear #3 Well
The Bear #3 well was drilled to 2,257 feet and encountered 22 feet of oil pay in the Vedder Sands between 2,115 and 2,166 feet. This well is currently being completed.
Bear #4 Well
The Bear #4 well was drilled to 2,546 feet and encountered 40 feet of oil pay in the Vedder Sands between 2,158 and 2,202 feet. This well is currently being completed.
Both the Bear #3 and the Bear #4 wells will be produced into the Company's production facility located on the adjoining lease.
James F. Westmoreland, President and Chief Executive Officer, stated, "Our 3-D seismic is proving invaluable at pinpointing our well locations to help optimize the development of the field and as a result we continue with success with the drill bit. The Bear #4 is a substantial well for the Company doing two things: one, confirming our initial interpretation of the 3-D seismic that the reservoir extended into this area; and two, allowing us to drill up to three more wells to fully develop this reservoir. We will continue with our plan to create a steady and positive cash flow stream for the Company."
In addition to the Bear #3 and Bear #4 wells, the Company currently has seven producing wells within its Bear, Sunday and Black prospect areas in the Company's East Slopes Project in the San Joaquin Valley in Kern County, California.
Daybreak Oil and Gas, Inc. is an independent oil and gas company engaged in the exploration, development and production of oil and gas in California. Daybreak has over 22,000 acres under lease and a seismic option on an additional 14,000 acres.
For more information about Daybreak Oil and Gas Inc., please visit its website at www.daybreakoilandgas.com.
"Safe Harbor" Statement under Private Securities Litigation Reform Act of 1995: Certain statements contained herein constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Information contained herein contains "forward-looking statements" which can be identified by the use of forward-looking terminology such as "believe," "expect," "may," "should," "up to," approximately," "likely," or "anticipates" or the negative thereof or given that the future results covered by such forward-looking statements will be achieved. Such forward-looking statements involve a number of known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements.
Contact: |
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Ed Capko |
815-942-2581 |
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Investor Relations |
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SOURCE Daybreak Oil and Gas, Inc.
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