Worthington Energy, Inc. has acquired a 10.35% Carried Working Interest in the recently drilled I-1 well, plus a 2% Override Interest in the entire Mustang Island 818-L Lease, covering 14,400 acres in the Gulf of Mexico, from Black Cat Exploration & Production, LLC.

"I am thrilled to be able to report that we have a timetable for moving forward on the I-1 well platform," stated Worthington Energy, Inc. President, Mr. Tony Mason. "We received notification from Dominion Operating yesterday that the lift boat is in Galveston. The boat is currently undergoing ABS (American Bureau of Shipping) inspections and will then depart for the Mustang Island 818-L area. We expect the boat to leave Galveston within 5 to 7 days with all required equipment including the jacket, platform and pipeline. Jacket installation will take 7 days after arrival at the I-1 well site, subject to weather conditions As we reported earlier, it then takes approximately 17 days, again weather permitting, to complete the platform installation, tie in and testing, and to begin production."

Tags: Worthington Energy