Fossil Oil Company Now Drilling in Liberty County, TX
Houston, Texas August 28, 2012 – Fossil Oil Company, LLC announces its current 3-D seismic based project Fossil – Texas Gulf Coast Oil Well Joint Venture. This well is located in the well-established Cottonwood North Field in Liberty County, Texas and is to be drilled to a total depth of 16,200’ to test the prolific Cook Mountain formation. We are currently drilling at 12,935’.
The Fossil-Texas Gulf Coast Oil Well JV’s Operator has contracted with Precision Drilling Company’s Rig #86 to drill the Bandit Prospect Well #1. The reserve potential for this 3-D seismic based prospected has been estimated to be a total of 800,000 Barrels of Oil and 16 Billion Cubic Feet of Natural Gas to the 8/8th. The Bandit Prospect is on strike with other Cook Mountain discoveries in the area producing from 5 Million to 25 Million Cubic Feet of Gas per Day (MMCFPD) with oil yields up to 130 Barrels of Condensate (Oil) per Million Cubic Feet (MMCF). The prospect is further supported by subsurface geological control from nearby producing wells.
Fossil’s President, Dennis R. Kittler has stated, “The 3-D seismic data on this well affords Fossil the strongest reasons to believe that the estimated recoverable reserves are highly achievable. This well has the potential to be a ‘company maker’ as well as a significant producer for our JV partners”.
Fossil Oil Company is an independent oil and gas exploration and production company whose management and consultants collectively have more than 130 years’ experience in operating and generating oil and gas investment opportunities for high net worth individuals. For more information about Fossil Oil Company, LLC, please visit www.fossiloil.com or firstname.lastname@example.org.