Legend Oil and Gas has now completed the drilling of the second tranche of eight wells of the 24 well development drilling on its Piqua Kansas oil production property bringing the total number of wells drilled since June 1st to 16. The first eight wells are pumping at an average 30 day IP (initial production) rate of 23 BOPD (Barrels of Oil per Day) with 17 BOPD attributable to the eight new wells. Of the second group of eight wells, four have been completed and are now on production, with four wells awaiting completion and tie-in.
Marshall Diamond-Goldberg, President and CEO of Legend said: "This second phase of our drilling program was done to further expand the boundaries of the Squirrel reservoir and build on the success of the first eight locations. The new wells have further pushed the boundaries of the field and have opened up additional PUD (Proven Un-Developed) locations for future drilling. During this phase of drilling, we chose to drill a deep test on the east side of the John Ellis lease which encountered oil in the Mississippi limestone, We are testing the deep test well this week for commercial potential and hope to be able to report positive results in the next few weeks."