AMARILLO, Texas--(BUSINESS WIRE)--
Amazing Energy Oil and Gas Co. (AMAZ) is pleased to announce recent results from its Pecos County, Texas property.
Reese Pinney, Chief Operating Officer of the Company, stated, “we have hundreds, perhaps thousands of wells to drill on our Pecos County property. We have been working diligently to perfect our completion technique. I think we have found a significant improvement based on the results of these successful wells. Most of the Company’s current production comes from these more recent wells namely the No. 13, No. 14 and No. 15. Our planned workover program is expected to take the older wells up to this level of performance, laying the groundwork for new drilling. We are excited about getting 12 new locations surveyed and staked with 2 locations having the sites prepared for drilling.”
Art Seligman, the company’s CEO also stated that progress is being made on the Jilpetco transaction, along with a 2016 drilling program.
Amazing has assembled such a large inventory of low risk, quality developmental prospects in the Permian Basin. The Company has a professional team to maximize the monetization of the property as quickly and efficiently as possible.
Cautionary Statement: Statement of future events or conditions in this release are forward-looking statements. Actual future results, including project plans and schedule and resource recoveries could differ materially due to changes in market condition affecting the oil and gas industry or long term oil and gas price levels; political or regulatory developments; reservoir performance; the outcome of future exploration and development efforts; technical or operating factors; the outcome of future commercial negotiations, and other factors.