Opal Energy Announces Signing of Joint Operating AOpal Energy Announces Signing of Joint Operating Agreement to Drill Boettcher Well
Opal Energy Announces Signing of Joint Operating Agreement to Drill Boettcher Well
06 Aug 2008 08:30 ET
Marketwire
Opal Energy Corp
August 6, 2008 - 08:30:54 AM
Opal Energy Announces Signing of Joint Operating Agreement to Drill Boettcher Well
VANCOUVER, BRITISH COLUMBIA--(Marketwire - Aug. 6, 2008) -
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Opal Energy Corp (the "Company") (TSX VENTURE:OPA) announces that it has signed a joint operating agreement with partners to participate in the drilling of a test well for the Boettcher prospect, the Vacek #1. The Company has an initial 26 percent, non-operating working interest and 19 percent net revenue interest in the well, the proposed total depth of which is 16,000 feet.
The Boettcher prospect is located on the border between Fort Bend and Wharton Counties, Texas and includes land in both counties. It is one of five Wilcox trend prospects in which the Company has a working interest.
President and CEO Barry Williamson commented, "One factor that makes the Boettcher an attractive drilling prospect is its close proximity to several historically productive Wilcox Meek Sand fields. We look forward to the
spudding of the Vacek #1, which we anticipate will take place early this fall."
Opal Energy Corp
Opal Energy Corp is an independent exploration and production company, focused on developing onshore natural gas resources in South Texas. Key components of
its strategy include the use of proprietary 3-D seismic surveys, concentration on underexplored regions and reliance on a team of highly experienced E&P professionals, based primarily at the company's U.S. headquarters in Katy, Texas. Listed on the TSX-V Exchange (TSX VENTURE:OPA), the company also maintains a corporate office in Vancouver, B.C., Canada and a satellite office
in Victoria, Texas.
On behalf of the Board of Directors
Opal Energy Corp
Ronald E. Oligney, Chairman of the Board
Barry Williamson, President, CEO and Director
