Citation Resources Limited advises that the Russel Bevly #2 well has successfully drilled ahead from setting intermediate casing down to 11,430ft and is currently at 12,220ft. A 30-day drilling program is scheduled by the Operator (Ventex Operating Corp.), with the Howell Hight priority sandstone reservoir formation top expected to be intersected from 13,500 ft.

The Russell Bevly #2 is an infill appraisal well with a target depth of 14,250 feet (approx 4,350m) and is located between the successful Smith #1 and Russell Bevly # 1 wells that previously achieved combined production rates of 9.3 MMCf & 800 bbl of oil per day following successful well stimulation.

Citation has already pre-paid in full its share of the dry hole AFE costs (US$613,000) to the Operator for the Russel Bevly #2 appraisal well on the North Chapman Ranch project.

Tags: Citation Resources Ltd