Cardiff Energy Corp ($CRS:CA) announced that the Lateral drilling of the Clayton No. 1H, currently residing at 6,500 feet, will be completed this weekend. Also, in their partnership with project operator Martin Energies, Cardiff has acquired an additional 10% working interest in the Clayton No.1H.
"We are elated with the drilling results to date and are extremely excited to have increased our working interest in Clayton No. 1H to 60%,” said Jack Bal, president and CEO of Cardiff. “With funding secured and the well scheduled to be completed this weekend, we are looking forward to the initial flow test."
The Texas-based Clayton well, planned as a follow-up to the successful drilling of Bearcat 4, was designed to test the Gardener Lime, a fractured limestone target. "During the past few days of drilling, numerous impressive gas kicks and oil shows were encountered,” said Martin Energies. “The deeper into the zone we drill, the formation appears to be much richer in hydrocarbons. With drilling scheduled to be completed this weekend, we are looking forward to testing the well."
With Cardiff’s focus on the acquisition, exploration, development, and production of oil and gas properties in the United States of America, the emerging junior oil and gas company is moving steadily along with their mission to identify oil and gas investment opportunities and strengthening shareholder value.
For more information about Cardiff Energy, visit www.cardiffenergy.com.
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