TSXV-Listed Strata-X Energy Begins Drilling Work at Second Lingle Oil Well; Stock Surges 7%
09/04/2015 11:57 AM ET
11:57 AM EDT, 09/04/2015 (MT Newswires) -- Oil and gas explorer Strata-X Energy (SXE.V) late Thursday said that drilling rig has been mobilized at the second well in its Lingle Oil Project.
Drilling at the well is expected to intersect up to 16 feet of the Lingle reservoir, and to encounter higher initial reservoir pressure and oil saturations than the Burkett well. The company expects the well to be spudded on September 10.
The stock surged 7% recently, trading at the lower half of 52-week range $0.05 - $0.28.
Price: 0.0750, Change: +0.0050, Percent Change: +7.1
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