Ashanti Gold Corp. GULSF

RE: oilexco hits

[momentum_seeker]

From Oilexco's News release: The Huntington 22/14b-8 well was spudded on December 18, 2007 and drilling was complete on January 28, 2008. On the way to the deeper objective, the Paleocene Forties sand was penetrated high to prognosis intersecting 95 feet of oil bearing sand, thus enlarging the mapped area of the Huntington Forties oil accumulation. A thick sequence of Upper Jurassic Fulmar sand was encountered in the 22/14b-8 well bore at an elevation well below the top of the Fulmar sand intersected in the 22/14b-5 discovery well. Wireline logs indicate an apparent oil/water contact was intersected approximately 310 feet below the 'oil down to' level present in the discovery well. These results suggest a minimum 452-foot oil column is present in the Huntington Fulmar oil accumulation, as the crest of the structure has yet to be drilled.