U.S. Oil & Gas report that the Eblana #1 exploration well currently being drilled by its wholly owned subsidiary Major Oil International LLC reached a depth of 7,474 feet on 23rd May 2012 at 22.00 hours PST.

Oil shows observed and samples collected while drilling indicate multiple potential hydrocarbon pay zones. An estimated gross section of up to one thousand feet of hydrocarbon shows (with possible gas/oil net pay zones ranging from 100 to 300 ft) has been encountered within volcanic ash conglomerates integrated with sandstone interbed zones, whilst further oil shows have been encountered in the deeper reservoir horizons currently being drilled.

Tags: U.S. Oil & Gas Corp.