Petrichor Energy Inc. (
TSX: V.PTP,
Stock Forum) said Friday it has started drilling at the BLAKEnergy Garner #2 Well in Jack County, Texas.
The company said the well will be drilled to an approximate depth of 6,400 feet (1,920 metres) to test the Strawn Sands, Caddo Lime, Marble Falls, Barnett Shale and Ellenberger zones.
Petrichor owns a 67% working interest in the prospect, which covers 11,695 acres of oil-rich Pennsylvanian Limestone, located in the Forth Worth Basin, North Texas, in a number of counties, including Jack, Stephens, Monegue, and Palo Pinto.
Petrichor shares were unchanged at 29 cents on Friday, leaving a market cap of $9 million, based on 31 million shares outstanding. The 52-week range is 58 cents and 28 cents.
Petrichor is an emerging oil and gas exploration company that is aiming for growth by exploiting the potential of its low risk oil and gas fields in Texas and Mississippi, and finding prospective exploration projects in North and South America.
FULL DISCLOSURE: Petrichor Energy (V.PTP) is a Stockhouse Publishing client.