CALGARY, Jan. 14 /PRNewswire-FirstCall/ - Lux Energy Corp. (the "Company") has recently acquired an added working interest in the Barrhead production reservoirs located in West Central Alberta. These reservoir locations were initially explored and developed as natural gas plays. The most recent development well drilled for its' natural gas potential encountered a oil reservoir. The operator has advised that this oil zone is flowing at 40 barrels of high gravity crude per day including the gas cap which is producing at 320 mcf.
Shane Broesky, President, reiterated comments from the operator stating that this was an unexpected result whereby this well is capable of producing at these rates and that the structure has not been stimulated. He continues to mention that this oil zone may very well extend to adjacent drilling targets. Well logs and further testing will give us an abundance of geological information to exploit this discovery.
Broesky further comments that this discovery event is most opportunistic. "Lux Energy will pursue participation to our maximum capacities. Indications are that a 10 well program is now contemplated. Lux is also in pursuit of a oil and gas project in Northern B.C. Financing arrangements for this endeavor are in process."
A copy of the filed information can be found for viewing by electronic means by viewing the Company's filings on www.sec.gov.
Lux Energy Corporation
Lux Energy is an oil and gas production and exploration company focusing on developing oil and gas resources in North America.
For further information please visit www.luxenergycorp.com.
SOURCE LUX Energy Corporation