Doxa Energy Ltd. provide the following update regarding its continuing participation in the Mississippian Oil Play in northern Oklahoma. As previously reported, Doxa owns 20% interest in approximately 18,400 acres (3,600 net acres) situated primarily in Alfalfa, Grant, Garfield and Kay counties, Oklahoma. This area is considered to be the core area of the quickly-evolving Mississippian Oil Play.
Although the current play is a little more than two years old, there are already over 600 horizontal wells drilled or drilling, and nearly 50 rigs running, according to recent public disclosures by the leading operators.
Doxa expects to participate in 300-400 wells during the life of the play (assuming spacing of 3-4 wells per 640 acre drilling unit). Six wells incorporating portions of Doxa's acreage in Alfalfa and Grant counties have already been drilled and are in varying stages of production and development as follows: