News Petrichor (PTP.V) Announces Completion of Marble Falls Fracture Stimulation of Hinson #1 Well in Young County, Texas
VANCOUVER, BRITISH COLUMBIA--(Marketwired - March 5, 2014) - Petrichor Energy Inc. (TSX VENTURE:PTP)(FRANKFURT:YQN) (the "Company") announces that fracture stimulation operations were completed on the Hinson #1 well (the "Well"), on March 4, 2014. The Company is proceeding with production testing of the lower portion of the Marble Falls, followed by a completion operation for the upper portion. Production equipment has been installed, and all production during the testing period will be sold.
The Well is the first of three wells to be drilled on the Marble Falls Prospect (refer to News Releases dated December 3, 10, and 12, 2013), located in Young County, Texas within the approximate surface coordinates of -98.6644182 Longitude and 33.3508939 Latitude.
As previously announced, Petrichor owns a 66.67% working interest in the Marble Falls Prospect, covering 11,695.33 acres to date, located within Young County, Jack County, Archer County and Clay County, Texas.
The Mississippi Lime is a Mississippian age porous limestone formation that is deposited beneath the Barnett Shale, which is analogous to the Mississippi Lime play in Kansas and Oklahoma. The Marble Falls formation is a Pennsylvanian age limestone, analogous to the Strawn Lime play in West Texas. To date, independent operators have drilled over 50 vertical and horizontal multi-stage fraced wells in the Marble Falls and Mississippi limestone with positive results.
ON BEHALF OF THE BOARD
Joe DeVries, President and CEO