The Company has drilled three (3) natural gas wells all of which were discoveries. The API numbers for these wells are: 42-105-40868, 42-105-40820 and 42-105-40720. All of the wells are in the Adams-Baggett Field and will be producing from the Wolfcamp Canyon Sandstone reservoir.
Well 42-105-40868 was drilled to 4,708 feet and was successfully completed after frac treatment on October 27, 2008. Well 42-105-40820 was drilled to 4,672 feet and was successfully completed after frac treatment on the same date. The Company used the services of Weatherford in fracing and completing both wells. Both wells are projected to be connected to a pipeline operated by Millennium on or about November 26, 2008.
The Company's third discovery well, 42-105-40720, is awaiting completion on or about December 5, 2008. The Company is nearing the end of drilling on a fourth well (API No. 42-105-40719), which it will schedule for fracing and completion on the same date, provided it is a discovery well.
Commenting on the results to date, the Company's CEO, Yossi Attia, stated: "We are pleased with our progress in starting our drilling program. We aim to establish a distinguished track record in drilling successful wells with favorable return and manageable risk profiles as evidenced by the results of our first three wells."
About Vortex Resources Corp.
Vortex Resources Corp. is an emerging natural resources company with current operations in West Texas. The Company's focus is on the acquisition, exploration, development and production of oil, natural gas and minerals. The Company's objective is to find, acquire and develop natural resources at the lowest cost possible and recycle its cash flows into new projects yielding the highest returns with controlled risk.
This press release contains forward-looking statements that involve risks and uncertainties. The statements in this release are forward-looking statements that are made pursuant to safe harbor provision of the Private Securities Litigation Reform Act of 1995. Actual results, events and performance could vary materially from those contemplated by these forward-looking statements. These statements involve known and unknown risks and uncertainties, which may cause the Company's actual results in future periods to differ materially from results expressed or implied by forward-looking statements. You should independently investigate and fully understand all risks before making investment decisions.
SOURCE: Vortex Resources Corp.
