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Suspension over, 1st day on greys:
http://www.dtcc.com/downloads/legal/imp_notices/2013/nscc/otc/OTC-109.pdf
KYUS: SEC Suspension:
http://www.sec.gov/litigation/suspensions/2013/34-69625.pdf
Order:
http://www.sec.gov/litigation/suspensions/2013/34-69625-o.pdf
Admin Proceeding:
http://www.sec.gov/litigation/admin/2013/34-69626.pdf
Anything here besides sporadic trading?
Actually they filed bk
last month
MK
New lo today
MK
Jul. 14, 2009 (U.S. Equity News) --
Kentucky USA Energy, Inc. (OTCBB: KYUS), a development stage natural gas exploration and production company, announced today that the Company has reached total depth ("TD") of 2,450 feet on its Jimmy Jackson #1 well located on its leasehold in the New Albany Shale in western Kentucky. The Jimmy Jackson #1 drilling log confirms that there is approximately 158 feet of shale formation encountered in this well between 2,150 feet and 2,308 feet, which is showing strong gas to the surface.
In addition, the Company has completed the connection of its gathering system to 16 of its wells and expects that it will have a contract executed with Seminole Energy Services, LLC. to purchase the production of the gas from the Company's wells shortly.
About Kentucky USA Energy, Inc.
Headquartered in London, KY, Kentucky USA Energy, Inc. engages in the acquisition, exploration, and development of oil and natural gas resource properties, with a primary focus on New Albany shale gas in the Illinois Basin in western Kentucky. The Company is a growing, exploration stage independent energy company with the experience and technological expertise to exploit its gas resources on its properties in the Illinois Basin's New Albany Shale.
More information about the Company may be found at www.kusaenergy.com.
Forward-Looking Statements
Certain statements in this news release, which are not historical facts, are forward-looking statements. These statements are subject to risks and uncertainties. Words such as "expects", "intends", "plans", "may", "could", "should", "anticipates", "likely", "believes" and words of similar import also identify forward-looking statements. Forward-looking statements are based on current facts and analyses and other information that are based on forecasts of future results, estimates of amounts not yet determined and assumptions of management. Actual results may differ materially from those currently anticipated due to a number of factors which may be beyond the reasonable control of Kentucky USA Energy, including, but not limited to, the availability and pricing of additional capital to finance operations, including the drilling of its initial gas wells, longer term drilling programs and additional leasehold acquisitions, the viability of the shale gas fields in the Illinois Basin in western Kentucky, the ability of Kentucky USA Energy to build and maintain a successful operations infrastructure and to effectively drill and develop producing wells, the successful negotiation and execution of cost-effective third-party gas drilling and distribution agreements, the continued commitment of drill rig operators and future economic conditions and the volatility and decreases in energy prices. Readers are urged not to place undue reliance on the forward-looking statements, which speak only as of the date of this release. We assume no obligation to update any forward-looking statements in order to reflect any event or circumstance that may arise after the date of this release. Additional information on risks and other factors that may affect the business and financial results of Kentucky USA Energy can be found in the filings of Kentucky USA Energy with the U.S. Securities and Exchange Commission.
Still holding this....waiting for a comeback.....right now I'm down 77%....Long way to go!
News: additional 1.2 million in funding received for drilling program.
Federal bailouts reward inefficient and corrupt management, rob taxpayers, hurt smaller and more responsible private firms, exacerbate our budget problems, explode national debt, and destroy our US Dollar. Even more importantly, any bailout of private industry is in direct violation of the constitution. It is a transfer of wealth from those who have earned to those who have squandered. The federal government has overstepped its enumerated powers as stipulated in the supreme law of the land.
Dr. Paul opposes all federal bailouts of private industry. He strongly criticized the $700 billion bank bailout, AIG bailouts, and auto bailouts, as well as the trillions of dollars the Federal Reserve have printed to fund the subsidization of bad business.
Rand Paul would vote to oppose any and all federal bailouts. Instead, he will fight to balance the budget, pay down national debt, restore the value of the Dollar, and allow the responsible to replace the reckless in the marketplace. America is the land of opportunity, to succeed and to fail. It’s time our government starts promoting responsibility.
http://www.randpaul2010.com/issues/bailouts
Kentucky USA Energy, Inc. Announces Test Results on 3 Wells
May 29, 2009 9:00:00 AM
Copyright Business Wire 2009
Email Story Discuss on ZenoBank
View Additional ProfilesLONDON, Ky.--(BUSINESS WIRE)-- Kentucky USA Energy, Inc. (OTCBB: KYUS), a development stage natural gas exploration and production company, announced today that a four point flow test has been completed at three of its wells, Francis Grace #1, Francis Grace #3 and Hunter Wells #1. These tests were completed by an independent gas analysis engineering firm that was retained by the Company.
Francis Grace #1 yielded an absolute open flow rate of 100 Mcf (thousand cubic feet) per day. This well was drilled to a total depth ("TD") of 2,626 feet and has a producing zone of 157 feet between the depths of 2,383 and 2,540 feet in the New Albany shale formation. Shut in pressures in this well built to approximately 795 psi.
Francis Grace #3 yielded an absolute open flow rate of 110 Mcf per day. This well was drilled to a TD of 2,578 feet and has a producing zone of 158 feet between the depths of 2,392 and 2,550 feet in the New Albany shale formation. Shut in pressures in this well built to approximately 802 psi.
Hunter Wells #1 yielded an absolute open flow rate of 105 Mcf per day. This well was drilled to a TD of 2,431 feet and has a producing zone of 158 feet between the depths of 2,200 and 2,358 feet in the New Albany shale formation. Shut in pressures in this well built to approximately 805 psi.
The four point flow test for each of these three wells was conducted with various orifices to establish the largest flow at the lowest surface pressure. The engineering firm that conducted these tests reported that flow volumes on each orifice were generally the same for all of the various orifices used.
Steven Eversole, CEO of Kentucky USA Energy commented, "These flow test numbers confirm our original studies and are an industry accepted indicator of expected well production flow rates. I look forward to reporting additional well tests over the next couple of weeks on our Golden Eagle #1 and Slinker #2 wells. The wet weather, which is beyond our control, has continued to hinder our drilling operations, although we are working through these difficult conditions as best as we can. We appreciate the patience of our shareholders as we near the tie-in of our initial wells."
About Kentucky USA Energy, Inc.
Headquartered in London, KY, Kentucky USA Energy, Inc. engages in the acquisition, exploration, and development of oil and natural gas resource properties, with a primary focus on New Albany shale gas in the Illinois Basin in western Kentucky. The Company is a growing, exploration stage independent energy company with, it believes, the experience and technological expertise to exploit the gas resources on its properties in the Illinois Basin's New Albany Shale.
More information about the Company may be found at www.kusaenergy.com.
Forward-Looking Statements
Certain statements in this news release, which are not historical facts, are forward-looking statements. These statements are subject to risks and uncertainties. Words such as "expects", "intends", "plans", "may", "could", "should", "anticipates", "likely", "believes" and words of similar import also identify forward-looking statements. Forward-looking statements are based on current facts and analyses and other information that are based on forecasts of future results, estimates of amounts not yet determined and assumptions of management. Actual results may differ materially from those currently anticipated due to a number of factors which may be beyond the reasonable control of Kentucky USA Energy, including, but not limited to, the availability and pricing of additional capital to finance operations, including the drilling of its initial gas wells, longer term drilling programs and additional leasehold acquisitions, the viability of the shale gas fields in the Illinois Basin in western Kentucky, the ability of Kentucky USA Energy to build and maintain a successful operations infrastructure and to effectively drill and develop producing wells, the successful negotiation and execution of cost-effective third-party gas drilling and distribution agreements, the continued commitment of drill rig operators and future economic conditions and the volatility and decreases in energy prices. Readers are urged not to place undue reliance on the forward-looking statements, which speak only as of the date of this release. We assume no obligation to update any forward-looking statements in order to reflect any event or circumstance that may arise after the date of this release. Additional information on risks and other factors that may affect the business and financial results of Kentucky USA Energy can be found in the filings of Kentucky USA Energy with the U.S. Securities and Exchange Commission.
Source: Kentucky USA Energy, Inc.
----------------------------------------------
Kentucky USA Energy
Inc.
Steven Eversole
CEO
606-878-5987
or
Investor Relations:
Corporate Evolutions
Inc.
Ph: 516-482-0155
Toll Free: 877-482-0155
info@corporateevolutions.com
www.corporateevolutions.com
Kentucky USA Energy, Inc. Updates Shareholders on Gathering System
May 11, 2009 9:00:00 AM
Copyright Business Wire 2009
Email Story Discuss on ZenoBank
View Additional ProfilesLONDON, Ky.--(BUSINESS WIRE)-- Kentucky USA Energy, Inc. (OTCBB: KYUS) (the "Company"), a development stage natural gas exploration and production company, hereby updates shareholders on the progress of the construction of the pipeline tie-in of its wells located on its leasehold in western Kentucky. The Company has hired Bluegrass Pipeline Construction Inc. ("Bluegrass Pipeline") as contractor for the construction of the gas gathering system that will tie-in the Company's wells to the third-party pipeline that will be purchasing the gas produced from the Company's wells.
Bluegrass Pipeline is a pipeline construction and maintenance company based in London, Kentucky with over 12 years of experience that includes the installation of major sections of cross country pipelines, laterals and system expansions, relocation and line lowering, right of way restoration, fabrication and installation of pig launching and receiving facilities, valve installations, hydro-testing and tie-ins. Bluegrass Pipeline's pipeline service experiences includes the construction of approximately 3.7 million linear feet of poly and steel pipe.
To date, Bluegrass Pipeline has fused, laid and tested over 20,000 feet of pipe for the Company's gathering system and continues to fuse and lay additional pipe to complete our initial pipeline connection phase. "We are excited to update our shareholders on the progress of the construction of the Company's gas gathering system. At this point, we anticipate that, weather permitting, we will be able to connect all 16 wells that we have drilled to date to the third-party pipeline and begin selling our gas by June. We will continue to keep our shareholders informed as to the progress of this last step leading to the sale of our gas and our first revenues."
About Kentucky USA Energy, Inc.
Headquartered in London, KY, Kentucky USA Energy, Inc. engages in the acquisition, exploration, and development of oil and natural gas resource properties, with a primary focus on New Albany shale gas in the Illinois Basin in western Kentucky. The Company is a growing, exploration stage independent energy company with, it believes, the experience and technological expertise to exploit the gas resources on its properties in the Illinois Basin's New Albany Shale.
More information about the Company may be found at www.kusaenergy.com.
Forward-Looking Statements
Certain statements in this news release, which are not historical facts, are forward-looking statements. These statements are subject to risks and uncertainties. Words such as "expects", "intends", "plans", "may", "could", "should", "anticipates", "likely", "believes" and words of similar import also identify forward-looking statements. Forward-looking statements are based on current facts and analyses and other information that are based on forecasts of future results, estimates of amounts not yet determined and assumptions of management. Actual results may differ materially from those currently anticipated due to a number of factors which may be beyond the reasonable control of Kentucky USA Energy, including, but not limited to, the availability and pricing of additional capital to finance operations, including the drilling of its initial gas wells, longer term drilling programs and additional leasehold acquisitions, the viability of the shale gas fields in the Illinois Basin in western Kentucky, the ability of Kentucky USA Energy to build and maintain a successful operations infrastructure and to effectively drill and develop producing wells, the successful negotiation and execution of cost-effective third-party gas drilling and distribution agreements, the continued commitment of drill rig operators and future economic conditions and the volatility and decreases in energy prices. Readers are urged not to place undue reliance on the forward-looking statements, which speak only as of the date of this release. We assume no obligation to update any forward-looking statements in order to reflect any event or circumstance that may arise after the date of this release. Additional information on risks and other factors that may affect the business and financial results of Kentucky USA Energy can be found in the filings of Kentucky USA Energy with the U.S. Securities and Exchange Commission.
Source: Kentucky USA Energy, Inc.
----------------------------------------------
Kentucky USA Energy
Inc.
Steven Eversole
606-878-5987
CEO
or
Investor Relations
Corporate Evolutions
Inc.
Ph: 516-482-0155
Toll Free: 877-482-0155
info@corporateevolutions.com
www.corporateevolutions.com
Kentucky USA Energy, Inc. Reaches Total Depth on J & Johnston #4
May 6, 2009 9:00:00 AM
Copyright Business Wire 2009
Email Story Discuss on ZenoBank
View Additional ProfilesLONDON, Ky.--(BUSINESS WIRE)-- Kentucky USA Energy, Inc. (OTCBB: KYUS), a development stage natural gas exploration and production company, announced today that the Company has reached total depth ("TD") of 2,500 feet on its J & J Johnston #4 well located on its leasehold in the New Albany Shale in western Kentucky. The J & J Johnston #4 drilling log confirms that there is approximately 160 feet of black shale formation encountered in this well which is showing strong gas to the surface. The geophysical log confirms that the shale formation encountered in this well compares to that of wells evaluated in the Company's 2008 reserves study.
Additional updates on the Company's drilling operation are as follows: Both rigs that are contracted to the Company have rigged down and the Company's drilling contractor is waiting to mobilize to the next two locations once the wet weather in the region breaks and the roads to the well sites become travelable. The Company is continuing to stake additional locations for drilling and is submitting local permit applications. To date, Kentucky USA Energy has drilled 16 wells to TD on its leasehold in the New Albany Shale.
"The Spring season has brought us warmer but wet weather and we continue to work through these wet conditions as best as possible," said Steven Eversole, CEO of Kentucky USA Energy. "We look forward to updating our shareholders shortly on the progress of our tie-in to the third-party pipeline that will be purchasing the gas from our wells."
About Kentucky USA Energy, Inc.
Headquartered in London, KY, Kentucky USA Energy, Inc. engages in the acquisition, exploration, and development of oil and natural gas resource properties, with a primary focus on New Albany shale gas in the Illinois Basin in western Kentucky. The Company is a growing, exploration stage independent energy company with the experience and technological expertise to exploit its gas resources on its properties in the Illinois Basin's New Albany Shale.
More information about the Company may be found at www.kusaenergy.com.
Forward-Looking Statements
Certain statements in this news release, which are not historical facts, are forward-looking statements. These statements are subject to risks and uncertainties. Words such as "expects", "intends", "plans", "may", "could", "should", "anticipates", "likely", "believes" and words of similar import also identify forward-looking statements. Forward-looking statements are based on current facts and analyses and other information that are based on forecasts of future results, estimates of amounts not yet determined and assumptions of management. Actual results may differ materially from those currently anticipated due to a number of factors which may be beyond the reasonable control of Kentucky USA Energy, including, but not limited to, the availability and pricing of additional capital to finance operations, including the drilling of its initial gas wells, longer term drilling programs and additional leasehold acquisitions, the viability of the shale gas fields in the Illinois Basin in western Kentucky, the ability of Kentucky USA Energy to build and maintain a successful operations infrastructure and to effectively drill and develop producing wells, the successful negotiation and execution of cost-effective third-party gas drilling and distribution agreements, the continued commitment of drill rig operators and future economic conditions and the volatility and decreases in energy prices. Readers are urged not to place undue reliance on the forward-looking statements, which speak only as of the date of this release. We assume no obligation to update any forward-looking statements in order to reflect any event or circumstance that may arise after the date of this release. Additional information on risks and other factors that may affect the business and financial results of Kentucky USA Energy can be found in the filings of Kentucky USA Energy with the U.S. Securities and Exchange Commission.
Source: Kentucky USA Energy, Inc.
----------------------------------------------
Kentucky USA Energy
Inc.
Steven Eversole
CEO
606-878-5987
or
Investor Relations
Corporate Evolutions
Inc.
Ph: 516-482-0155
Toll Free: 877-482-0155
info@corporateevolutions.com
www.corporateevolutions.com
10K filed!!
http://biz.yahoo.com/e/090316/kyuse.ob10-k.html
Kentucky USA Energy, Inc. Encounters Additional Gas Zone in Golden Eagle #1 Well
March 16, 2009 01:17 PM Eastern Daylight Time
LONDON, Ky.--(BUSINESS WIRE)--Kentucky USA Energy, Inc. (OTCBB: KYUS), an early stage natural gas exploration and production company, announced today an update on the Company’s drilling operation on its leasehold property in the New Albany Shale in western Kentucky. The Company has reached total depth (“TD”) of 2,762 feet on Golden Eagle #1, the eleventh well drilled to TD by the Company. The well has been evaluated and determined to be commercially viable and the well’s drilling log confirms that there is approximately 150 feet of shale in the New Albany Shale formation encountered in this well. An additional gas zone which was not in the original reserves study, the Dutch Creek formation, was also encountered in the Golden Eagle #1 well between 2,600 and 2,625 feet. The Company expects to complete this zone first. The completion process has begun on the well and the 4 ½” production casing is expected to be run into the well this week.
Additional updates on the drilling operation are as follows: Drilling is presently at 1,475 feet at the Hunter Wells #4 well. The drilling contractor has mobilized its rig to the Company’s next drilling location, Slinker #2, has spudded-in and is presently drilling at a depth of 1,705 feet. Both of these wells are expected to reach TD this week. The Company continues to prepare for its tie-in to the pipeline that will be purchasing gas from its wells, and it is expected that the first such tie-in will occur within the next 45 days.
The Company has filed its Annual Report on “Form 10-K” for its fiscal year that ended October 31, 2008 with the SEC. The “E” that was added to the Company’s symbol, indicating that its 10-K filing was late, is expected to be removed shortly.
“I apologize again for the delay in filing our annual report on Form 10-K for our fiscal year that ended October 31, 2008; we are putting in place certain measures to avoid any delays in our future filings," said Steven Eversole, CEO of Kentucky USA Energy. “We remain very excited about our drilling operation and we believe that once our wells are in production, we will have hit our next major milestone that our shareholders have been waiting for.”
only 2 people post on this stock. dragon man(hard to tell if he can even speak english) and is obviously a dreamer, and ortec that follows the dreamer. I got my education on this stock. Bought in at $3.60. No postings of substance. Slow death of stock value. No volume to be seen. At least I'll have a loss to offset gains at tax time! I will say however, it will be interesting to see if these guys ever generate any revenue. Quick rally back to a buck? Woohoo!
Kentucky USA Energy, Inc. Receives Additional $2.5 Million from Credit Facility
February 23, 2009 9:00 AM EST
LONDON, Ky.--(BUSINESS WIRE)-- Kentucky USA Energy, Inc. (OTCBB: KYUS), an early stage natural gas exploration and production company, announced today that the Company has received an additional $2.5 million in funding from NSES 12, LLC, a funding vehicle of New Stream Capital ("NSES"), for the continued development of its drilling program on its New Albany shale leasehold in the Illinois Basin in western Kentucky. This is a second tranche of a $10 million senior secured credit facility with NSES. The Company received its first loan of $2,500,000 under the NSES credit facility on June 30, 2008 and, at the sole discretion of NSES, may borrow up to an additional aggregate amount of $5,000,000 in tranches of a minimum of $2,500,000 each. All amounts borrowed from NSES must be used for the Company's development of its New Albany Shale drilling program.
"It is encouraging seeing the confidence that NSES has instilled in our management and the progress of our drilling operation, and we also appreciate our shareholders continued support especially during these tough economic times," Steven Eversole, CEO of Kentucky USA Energy commented. "This financing will provide the Company with the capital needed to further develop these properties. We have completed nine wells since June of 2008 and we expect to begin deliveries to the pipeline that will be purchasing the gas from our wells within the next few months, once warmer weather sets in and we have completed the tie-ins to that pipeline. In addition, we will continue to drill and complete an estimated additional ten to twelve wells in the coming months."
About Kentucky USA Energy, Inc.
Headquartered in London, KY, Kentucky USA Energy, Inc. engages in the acquisition, exploration, and development of oil and natural gas resource properties, with a primary focus on New Albany shale gas in the Illinois Basin in western Kentucky. The Company is a growing independent energy company with the experience and technological expertise to develop its gas resources in the Illinois Basin's New Albany Shale.
Kentucky USA Energy, Inc. Announces Two Additional Wells and Updates Shareholders on Delay of Filing Its Form 10-K
February 20, 2009 02:09 PM Eastern Time
LONDON, Ky.--(BUSINESS WIRE)--Kentucky USA Energy, Inc. (OTCBB: KYUS), an early stage natural gas exploration and production company, announced today that it has begun drilling at two additional wells located on its leasehold in western Kentucky. The Company has rigged up and spudded-in at the Francis Grace #3 location, presently drilling at a depth of 1,368 feet. The Company’s drilling contractor has also mobilized a second rig to the Golden Eagle #1 location and is expected to spud-in at that well later today.
The Company expects to file its Annual Report on Form 10-K for its fiscal year ended October 31, 2008, early next week. The delay in filing this Annual Report has been due to a delay in the Company’s receipt of an updated engineering report relating to proved reserves on the Company’s 2,200 acres leasehold property in western Kentucky. An "E" has been added to the Company's stock symbol to indicate that the filing is late and the Company expects that the “E” will be removed as soon as the Company successfully files its 10-K.
“I apologize to our shareholders for any confusion or concerns that may have arisen due to the symbol change and our late filing of our Form 10-K annual report. In these days of increased regulation and transparency, Kentucky USA Energy remains committed to maintaining accurate and timely filing of all required financial reports,” said Steven Eversole, CEO of Kentucky USA Energy. “We are looking forward to a productive and exciting year,” Mr. Eversole added.
dragon man- If u like toilet paper.
oil going 37 a barrel in januray furtures. now are you glade we not into oil, just naturanl gas.
oil at 40, that good question. the best i can say is, it will stay in 40 range till we recover and world. gas is going up then. how long , know idea. what i do know, when i fill up my car with gas, the gas is moving back up. the low in my area was 1.43, today it at 1.53. oil reach a new new low and what you putting in your car going up. who making pocketing the increase?
i should sold my uvse stock at penny and gave up, where it is, i can get enough money to pay the commission to sale it. how that grab you. now i give out warming that this is sunk. will CD holder still trying sell that stock and flood the market, they add 2 billion shares more. who in that right mind want buy this stock? the new well has to hit 3 billion recoverable field for stock come back to life. then 100 to 1 reverse is some where down the line or 1000 to 1. i know of stock that had 3 billion share out stand, they had the reserve and CEO issue more stock and back at 3 billion shares out stand. it not worth .0001 share.
Kentucky is one going make money for us. uvse is biggest lose i seem.
I like your thoughts on this. How long will oil be at $40??? What's your prediction? I can't afford to buy tissues with what's left of my UVSE... a penny would be great even a half a penny... even half of that! Thanks Dragon man for your input.
i saw where the looking for more land . it look promising. it in one of pr. you have look for it. they getting well on line now so they get positive cash flow from gas. that key to making company go and grow. uvse did get go cash flow and had issue all that stock to cd holder and it kill the company. over 2 billion shares outstanding. mod and the assist mod did know that. i did and they had to get crow. if it get to penny again in my life time, i sell it. oil going stand some where in 40 dollars range for long time. we all gas. i know of company that can no sell all it production now. they had slow down production , no demand for it oil at there low price. think about in north where they have fly supplies in to big oil field and used ice roads. at 100 dollars a day, that chairman of board o big company said , they did make much money on that filed. it was production was 100,000 barrel of oil a day. where our company is, they get better gas price for there gas.
i have got the letter but have not read it and study it..
we going some where here. as for uvse, what i own it will valve will not cover the sale charge to sell it. the 2 running company turn into con men. that my opinion on that company. every once in while i let out me hate and i try to tell those fool what loser they bought. they were pushing it like it golden egg. they knew they would have enough money to pay off the cd holders. did you know that company has over 2 billion shares out standing. a r/s is some where down the line.100 to 1 or 1000 to 1
i got good feeling about this company. the force is with me.
Dragon man, I received an end of year overview letter from KYUS today. Noting... "We are on the eve of our next major milestone, tying in our first wells to the third party pipeline...". Also it mentions "We are also evaluating additional lease acreage opportunities for future aquisition. Have you any new info concerning KYUS? I see your dabbling in UVSE again... Thanks for your input!
Kentucky USA Energy, Inc. Announces Drilling Update
December 17, 2008 9:00 AM EST
LONDON, Ky.--(BUSINESS WIRE)-- Kentucky USA Energy, Inc. (OTCBB: KYUS), an early stage natural gas exploration and production company, announced today an update on its drilling operation on its 2200 acre leasehold in the New Albany Shale in western Kentucky. The Company has reached total depth ("TD") of 2,340 feet on Francis Grace #2. After logging the well, the log confirmed that the shale formation encountered in this well is comparable to that of the wells evaluated in the Company's original reserves study. The Company has also reached TD of 3,000 feet on J & J Johnston #2. The log for this well also confirmed that the shale formation in this well is as expected. An additional gas zone which was not in the Company's original reserves study, the Clear Creek limestone formation, was also encountered in the J & J Johnston #2 well between 2,170 and 2,184 feet. We will be completing this zone first (prior to flow testing) with an acid treatment which is a common completion technique to stimulate gas flow in limestone formations. The 4 1/2" production casing has been cemented into both of these wells. To date, the Company has successfully drilled nine wells to TD.
Subject to any delays caused by inclement weather or service company interruptions, the Company has scheduled four point flow tests on Francis Grace #2, Hunter Wells #1, and Walker #1 for the early part of next week. These wells have been shut-in and prepared for testing.
Wet weather has further delayed rig equipment from moving onto J & J Johnston #1 to recommence drilling there. The Company has identified an additional 5 well sites and anticipates completing the permit applications for these sites in January.
that why i think this will make it.
They sure are keeping their investors informed, unlike some of my other investments! They are accomplishing their goals. Good business.
good post. this company go to be for real.
News...Kentucky USA Energy, Inc. Announces Drilling Update
November 24, 2008 10:41 AM EST
LONDON, Ky.--(BUSINESS WIRE)-- Kentucky USA Energy, Inc. (OTCBB: KYUS), an early stage natural gas exploration and production company, announced today an update on its drilling operation on its 2200 acre leasehold in the New Albany Shale in western Kentucky. Drilling is presently at 1870 feet on Francis Grace #2 and is expected to reach total depth ("TD") at the base of the shale formation of approximately 2600 feet. Drilling is presently at 1680 feet on Hunter Wells #1 and is expected to reach TD at the base of the shale formation of approximately 2400 feet. We have temporarily rigged down on J & J Johnston #1 due to the mechanical difficulties on the drilling rig at that location. However, the drilling contractor has rigged up different equipment at J & J Johnston #2, spudded-in, and is presently drilling at 925 feet.
The Company recently announced four point flow test results on three of the initial wells completed, and expects to test the additional 3 wells within the next few weeks. Steven Eversole, CEO of Kentucky USA Energy commented, "We are in the planning stage of the gathering system for our initials wells, which will tie-in to the pipeline that has contracted to purchase the gas from our wells, and we expect to start construction on our gathering system as early as next month. We feel that there is continued strength in the natural gas markets, and we believe that natural gas will continue to play a significant part of our country's energy stability."
one well only can in at 50 mcf of gas. that not much. what do well in this area come in at?
I haven't heard it mentioned. This is off their site.
-Kentucky USA will utilize typical air drilling techniques into the New Albany Shale
=All well bores will be logged and completed based on acceptable industry standards for the formation
=Lateral hydro-jetting will be performed where applicable, allowing multiple 500’ horizontal (lateral) holes to be drilled out from the vertical well bore
-The formations will be treated by fracturing the shale with Nitrogen at high injection rate
http://www.kusaenergy.com/drilling.html
Also:
Direct offsets to 3 NGAS Resources, Inc. wells – 3 of which have been recently tested with flow rates of 810 to 850 MCFD
Reasonable
wonder will the frac any well to get more production?
Test Results...Kentucky USA Energy, Inc. Announces Test Results on 3 Wells
November 13, 2008 10:10 AM EST
LONDON, Ky.--(BUSINESS WIRE)--
Kentucky USA Energy, Inc. (OTCBB: KYUS), an early stage natural gas exploration and production company, announced today that a four point flow test has been completed at three of its wells, B Johnston #1, Slinker #1B and Hunter Wells #3. These tests were completed by an independent gas analysis engineering company that was retained by the Company.
B Johnston #1 yielded an absolute open flow rate of 275 Mcf (thousand cubic feet) per day. The well was drilled to a total depth ("TD") of 2,387 feet and has a producing zone of 112 feet between the depths of 2,150 and 2,262 feet in the New Albany shale. Shut in pressures built to approximately 757 psi.
Slinker #1B yielded an absolute open flow rate of 250 Mcf per day. The well was drilled to a TD of 2,340 feet and has a producing zone of 180 feet between the depths of 2,120 and 2,300 feet in the New Albany shale. Shut in pressures built to approximately 787 psi.
Hunter Wells #3 yielded an absolute open flow rate of 50 Mcf per day. The well was drilled to a TD of 2,420 feet and has a producing zone of 20 feet between the depths of 2,230 and 2,250 feet in the New Albany shale. Shut in pressures built to approximately 806 psi.
The four point flow test for each of these three wells was conducted with various orifices to establish the largest flow at the lowest surface pressure. The engineering company reported that flow volumes on each orifice were generally the same for all the various orifices used.
Steve Eversole, CEO of Kentucky USA Energy commented, "I am pleased that the Company can now report to our shareholders definitive four point flow test numbers for our initial wells . These flow test numbers confirm our original studies and are an industry accepted indicator of expected well production flow rates. Our well progress and test results are in line with our initial expectations and we expect that our completion cost per well will be lower than originally budgeted. I look forward to reporting additional well tests over the next couple of weeks."
thanks what i be waitng on. i wonder how it will compair to other well there? also wonder why the did have contract to sell all the gas they could produce? up to 4,000 mmcf a day. is the pipe line all most full? how many well will that be? lots of question, but know good answer in the pr .
Flow tests should be completed soon. Looking forward to some movement here!
Kentucky USA Energy, Inc. Commences Drilling Two Additional Wells
November 7, 2008 9:00 AM EST
LONDON, Ky.--(BUSINESS WIRE)--
Kentucky USA Energy, Inc. (OTCBB: KYUS), an early stage natural gas exploration and production company, announced today that the Company has commenced drilling at two additional well locations on its leasehold in western Kentucky. Drilling rigs have rigged up and spudded-in at the Hunter Wells #1 and Francis Grace #2 locations. Drilling at the J&J Johnston #1 well is still suspended due to a mechanical breakdown on the drilling rig and the drilling contractor is waiting for a replacement drive engine to be delivered. In addition, the Company has reached total depth ("TD") of 2430 feet at the base of the shale formation at the Walker #1 location. The 4 1/2" production casing has been cemented into the well and the Company is now coordinating for perforation and fracturing of Walker #1 well.
Kentucky USA Energy, Inc. began drilling on its 2200 acre leasehold in the New Albany Shale in western Kentucky in June of this year. To date, the Company has drilled six wells to TD and is currently drilling at various stages on the three wells referenced above. The six wells that have been drilled to TD are as follows:
-- Francis Grace #1 with TD of 2626 feet
-- Hunter Wells #2 with TD of 2510 feet
-- Slinker #1B with TD of 2340 feet
-- Billy Johnston #1 with TD of 2387 feet
-- Hunter Wells #3 with TD of 2420 feet
-- Walker #1 with TD of 2430 feet
The completion process is ongoing on these first six wells and the Company plans to announce the results of four point flow tests on these wells once completed by the independent gas analysis engineer who has been retained by the Company to perform the tests. This information regarding the wells we are currently drilling and completing updates and supersedes the information we have previously reported.
Kentucky USA Energy, Inc. Announces Drilling Update
October 27, 2008 2:08 PM EDT
LONDON, Ky.--(BUSINESS WIRE)--
Kentucky USA Energy, Inc. (OTCBB: KYUS), an early stage natural gas exploration and production company, announced today a drilling update on its New Albany Shale project. The Company has commenced drilling at the Walker #1 location and drilling is presently at a depth of 1170 feet. The Company expects to reach total depth ("TD") on this well early this week. The Walker #1 well was originally designated for drilling in May but spudding-in was delayed because of permitting matters. Due to a mechanical breakdown on the drilling rig at the J&J Johnston #1 well, the rig at that well has been rigged down and the drilling contractor is waiting for a replacement drive engine to be delivered.
Steve Eversole, CEO of Kentucky USA Energy commented, "Despite the delay caused by the drilling rig on J&J Johnston #1 well, we are pleased with the ongoing progress of the drilling operation and continue to press forward on our New Albany Shale project. We have identified our next four drilling locations and we plan to get as many drilled to TD as possible before the winter sets in."
In addition, the completion process is ongoing on our first five wells - Slinker #1B, Francis Grace #1, Hunter Wells #1 (drilled to TD in place of Walker #1), Hunter Wells #2 and Billy Johnston #1. The Company plans to announce the results of the four point flow tests on these wells once completed by the independent gas analysis engineer who has been retained by the Company to perform the tests.
hope have new infor on kentuck soon. this look like good winner. now we should begin cash postive cash flow as well come on line.
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Recent Press Release
Kentucky USA Energy, Inc. Announces Drilling Update Wednesday December 17, 2008
Kentucky USA Energy, Inc. (OTCBB: KYUS), an early stage natural gas exploration and production company, announced today an update on its drilling operation on its 2200 acre leasehold in the New Albany Shale in western Kentucky. The Company has reached total depth (“TD”) of 2,340 feet on Francis Grace #2. After logging the well, the log confirmed that the shale formation encountered in this well is comparable to that of the wells evaluated in the Company’s original reserves study. The Company has also reached TD of 3,000 feet on J & J Johnston #2. The log for this well also confirmed that the shale formation in this well is as expected. An additional gas zone which was not in the Company’s original reserves study, the Clear Creek limestone formation, was also encountered in the J & J Johnston #2 well between 2,170 and 2,184 feet. We will be completing this zone first (prior to flow testing) with an acid treatment which is a common completion technique to stimulate gas flow in limestone formations. The 4 ½” production casing has been cemented into both of these wells. To date, the Company has successfully drilled nine wells to TD.
Subject to any delays caused by inclement weather or service company interruptions, the Company has scheduled four point flow tests on Francis Grace #2, Hunter Wells #1, and Walker #1 for the early part of next week. These wells have been shut-in and prepared for testing.
Wet weather has further delayed rig equipment from moving onto J & J Johnston #1 to recommence drilling there. The Company has identified an additional 5 well sites and anticipates completing the permit applications for these sites in January.
To view past releases:
Kentucky USA Energy, Inc. Announces Reaching Total Depth on Hunter Wells #1 December 01, 2008
Kentucky USA Energy, Inc. Announces Drilling Update November 24, 2008
Kentucky USA Energy, Inc. Announces Test Results on 3 Wells November 13, 2008
Kentucky USA Energy, Inc. Commences Drilling Two Additional Wells November 07, 2008
Kentucky USA Energy, Inc. Announces Drilling Update October 27, 2008
Kentucky USA Energy, Inc. Announces Contract to Sell Shale Gas to Atmos Energy Marketing, LLC October 13, 2008
Kentucky USA Energy, Inc. Announces Reaching Total Depth on Two Wells September 22, 2008
Kentucky USA Energy, Inc. Announces Drilling Update September 15, 2008
Kentucky USA Energy, Inc. Announces Reaching Total Depth on Second Well August 27, 2008
Kentucky USA Energy, Inc. Announces Further Drilling Developments July 31, 2008
Kentucky USA Energy, Inc. Announces Drilling Update July 24, 2008
Kentucky USA Energy, Inc. Announces Completion of $10 Million Credit Facility June 30, 2008
Kentucky USA Energy, Inc. Announces Permit Approvals and Commences Drilling June 26, 2008
Kentucky USA Energy, Inc. Announces Closing of a $2.5 Million Private Placement May 29, 2008
Kentucky USA Energy, Inc. Announces Commitment from Two Drilling Companies May 27, 2008
Kentucky USA Energy, Inc. Announces Letter of Intent May 19, 2008
Kentucky USA Energy, Inc. Announces Executive Management Team May 15, 2008
Kentucky USA Energy, Inc. Announces Results of Independent Gas Reserve Report May 13, 2008
Kentucky USA Energy, Inc. Discusses Western Kentucky Prospect May 09, 2008
About Kentucky USA Energy, Inc.
Headquartered in London, KY, Kentucky USA Energy, Inc. engages in the acquisition, exploration, and development of oil and natural gas resource properties, with a primary focus on New Albany shale gas in the Illinois Basin in western Kentucky. The Company is a growing independent energy company with, it believes, the experience and technological expertise to develop its gas resources in the Illinois Basin’s New Albany Shale.
More information about the Company may be found at www.kusaenergy.com.
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