Daybreak Oil and Gas, Inc., a Washington corporation, is pleased to announce that its second consecutive successful oil well has been drilled in the recently-acquired Twin Bottoms Field Project in Lawrence County, Kentucky. The Gerald Grove H-3 well was drilled to a measured depth (MD) of 4,461 feet and a true vertical depth (TVD) of 1,175 feet.
Logs and other measurement data indicate that the horizontal section of the well bore encountered 3,006 feet of oil-bearing sandstone. The well will be completed for production as soon as possible. The previously announced Gerald Grove H-1 well, the first in a multi-well program, has now been completed.
Production facilities have been installed, and the well should be on production within the next few days. Production results will be announced as initial stable rates are established. The drilling rig has been moved to our third well, the Dillon H-6 well and drilling operations are currently underway. The Company and App Energy, LLC, the operator, plan to drill up to three more wells before the end of the calendar year.