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Pegasi reports 30-day production rate for its first horizontal well


Published Aug 8, 2012
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Pegasi Energy

Pegasi Energy Resources Corp. provide investors with an update on the production of the Morse Unit #1-H, its first horizontal well, in Cass County, Texas following 30 days of oil production.

An independent contractor reported a wellhead production rate of 288 bpd oil and 454 MCF gas at 3 AM August 3rd, 2012. This spot production rate of 364 BOE (Barrels of Oil Equivalent) per day compares with an average for the previous 24hrs of 309 BOE. The well has consistently produced high quality, light, sweet oil of an API gravity in excess of 40 degrees. The Company is currently designing an artificial lift system that it anticipates will further enhance the well's production rate.

Tags: Pegasi Energy Resources Corp.



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