Terrace Energy Corp. is pleased to provide the following operations update.

The first STS Olmos well in our 2013 drilling program (SP5 1-2H) was spud on March 31. The well reached a total vertical depth of approximately 9,034 feet on April 20. Drilling operations were successfully executed, and our target objective was encountered as programmed. Completion operations will be scheduled in May depending on equipment availability. Upon completion, SP5 1-2H will be the fourth well placed into production on the STS Olmos project to date.

Cutlass Project

Completion operations were commenced on the previously drilled Cutlass West #A1 well and the project operator commenced to fracture stimulate the well on April 12. The well is targeted within the regionally prolific Eagle Ford oil window.Work is progressing on schedule and should be completed shortly. Flowback operations are expected to begin before the end of April and production to be initiated during May. The Cutlass West #A1 well will be the first well completed and place into production on the Cutlass project. Additional drilling is planned for the second quarter of the Company’s fiscal year.

Tags: Terrace Energy