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Eldorado Exploration New Mexico Well Progress
Dec 8, 2006 09:00:21 (ET)
IRVINE, Calif., Dec 08, 2006 (BUSINESS WIRE) -- Eldorado Exploration, Inc. (PINK SHEETS:EDEX) announced today that its Mesa #1 well, being drilled to 7100 ft in Roosevelt County, New Mexico has reached a depth of 6600 ft and is now drilling in the Canyon reef zone. The well will continue to 7100 ft to test several Canyon sands and the Montoya Dolomite at 7000 ft. The well results will be announced after the well reaches total depth and all potentially productive zones have been logged and tested. The well is behind schedule because of slow drilling rates of 5 feet per hour through several thick sections.
Eldorado Exploration, Inc. is an independent oil and gas company that utilizes a process called Passive Induced Polarization 'PIP' to detect electrostatic signals given off of some geological anomalies. In most cases a positive response indicates a hydrocarbon accumulation and a negative reading almost is always a dry hole. When used with the standard geological tools and methods, the PIP process enhances the odds of success for discovering oil and gas.
For further information about the company visit www.eldoradoexploration.com or email at eldoex@yahoo.com.
