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, reported, “The No. 21 well was successfully drilled and logged on July 15, and has had casing cemented to a depth of 1999 feet. Our primary objective in this well was the Queen Sand, the same reservoir where we have refined our completion practices. This well logged approximately a 40 foot thickness of the oil productive reservoir which is the same pay zone in the more recent and successful wells on the property. These new wells will be completed in groups of two to four wells. We anticipate continued meaningful gains in our levels of production. In addition to the new drilling, we expect to commence a re-entry and workover program on up to 6 wells applying our newly developed completion technology in the next 30 to 60 days.”
Amazing has assembled a large inventory of low risk, quality developmental prospects in the Permian Basin and 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.