Operations Update
October 30 2003 - 2:01AM
UK Regulatory
RNS Number:4656R
Texas Oil and Gas PLC
30 October 2003
30 October 2003
Texas oil and Gas PLC
Operations update
Further to the announcement on 25th September regarding the raising of funds to
acquire and rework a 50% interest in 10 wells on the BC Christian lease in the
East Texas Field, the board of Texas Oil & Gas announces that early indications
from the rework of the first well are very encouraging.
The BC Christian No.2 well was opened up on Tuesday 21st October and produced
220 barrels during the circulation process required to balance the pressure in
the well. The subsequent production rate is expected to be in line with the
existing 4 wells already producing on this lease. With this phase complete, a
submersible pump is being installed and the well will go on line by Thursday
30th October. The work-over rig will move immediately on to the No.11 well
where preparatory work has been completed and electricity installed, and this
well is expected to be producing within two weeks.
Once the work on No.2 well and No.11 well is complete, there are a further 8
wells to be reworked and the board will make further announcements regarding
this in due course.
Ends
Enquiries:
London office
Andrew Glendinning (FD)
Tel: 020 7 448 9752
Public Relations
Parkgreen Communications
Justine Howarth / Cathy Malins
Tel: 020 7287 5544
This information is provided by RNS
The company news service from the London Stock Exchange
END
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