Winchester Energy receives firm commitments to raise $2.5 million for Mustang Oil Field drilling in Texas
The company has a single focus on oil exploration, development and production in the Bermian Basin of Texas.
Company
ASX:WEL
Winchester Energy Ltd (ASX:WEL) is an oil and gas explorer and producer with with a focus on the Permian Basin in Texas, U.S.
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The company has a single focus on oil exploration, development and production in the Bermian Basin of Texas.
Interpretation of the wireline logs is required to determine the potentially productive net oil pay in zones where oil and gas shows have been observed while drilling.
Carl E Gungoll Exploration LLC, a private independent Texas-based company, is participating for a 25% interest in the drilling of White Hat 20#3.
Success at the Thomas 119-1H well will potentially add significant value to Winchester’s acreage at the Wolfcamp ‘D’ shale.
Vertical Events’ managing director expects the conference might prompt some merger and acquisition activity.
A total of circa US$4.58 million has been spent to date on the Thomas 119-1H well.
The halt will remain in place until Wednesday 29th November 2017.