Independence Energy Corp. has received confirmation that the contracted drilling rig for the Shields-MEI #105H Horizontal Well has arrived at the proposed well site in Coleman County, Texas. MontCrest Energy Inc. (MEI), the project operator, has elected to modify the original drill program schedule and plans to drill the Shields-MEI #105H as the first well of the two well MontCrest Drill Program. Drilling of the Vaughn-MEI #106 vertical well is scheduled to begin immediately following the completion of the Shields-MEI #105H.
"The project operator was fortunate enough to secure one of the best directional drilling contractors in the business to complete the Shields-MEI #105 horizontal well. This specialized crew is in great demand and their immediate availability played a major factor in the decision to drill the horizontal well first," stated Mr. Gregory C. Rotelli, CEO and President of Independence Energy. "Final rig is setup and testing is expected to be completed in the next 24 hours with drilling to begin immediately afterwards."