Monday, February 08, 2016 11:51:14 AM
"We are looking forward to drilling five wells into the shallow Temblor Formation as well as five into the Kreyenhagen, Avenal and Monterey Shale Formations. We are hoping to produce between 2,000 and 3,000 barrels a day from the wells once the drilling program is completed," Grid Petroleum President, James Powell, stated.
The Companies acreage in the Kreyenhagen Trend will have a total of ten wells producing when drilling is completed. The Company is actively seeking additional acreage that is in the same field as the acreage it currently holds.
The company will be the Operator of these lease holdings.
Grid Petroleum Corporation has cancelled the funding agreement that had i
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