Burleson Energy (ASX: BUR) has signed a rig contract for the drilling of its Golla-1 oil and gas well in the Heintschel Field, Texas.
The rig is currently expected to be on location in early July though the company has requested the first available time slot.
Golla-1, which is expected to cost US$2.2 million, will test a 135 acre anomaly that was identified as a result of successful drilling of three wells undertaken nearby.
These analogous wells have been extremely productive with one well, Cannon-1, producing 1.3 billion cubic feet of gas and 63,465 barrels of oil in its first five months of production.
Golla-1 is located within the 704 acre Truchard Unit in which Burleson has a 50% working interest.
If it is successful, there are at least 2 more "sweet spot" drilling locations on the 135 acre anomaly that will be pursued.
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