Lux Energy Corp Updates West Central Drilling Program
LUXE: OTC-BB
CALGARY, Nov. 12 /PRNewswire-FirstCall/ -- Lux Energy Corp. (the "Company") wishes to update shareholders on the West Central Alberta C & D program. The D well was drilled as a successful Natural Gas well including production of NG liquids and was to be tied into the pipeline on or before December 15th, 2009. It was decided by the operator that the D well should be remain capped at this time until Natural Gas prices rise in the near future. The operator has elected to drill a new well in a location that is believed to be following the same Oil trend as the C well.
Lux Energy Corp. and it's entire team have decided to explore and develop this entire project. This field has been deemed as a Wildcat Oil discovery in Alberta. There are no known wells in close proximity that have successfully hit this formation.
Shane Broesky, President of Lux Energy Corporation states "Based on the full 3D seismic program, the operator feels that we have a high success rate of encountering the same Oil formation the C well is currently producing from."
The oil discovery well in this project was originally thought to have high pressure gas has intersected an oil zone that initially flowed unstimulated at a rate of 40bbl/day oil and 320mcf gas. The first 72 days of production the C well produced 2200 BBLS of oil, 20 MMCF of natural gas, and 60 NGLS. There are 9 additional targets in this area to access.
A copy of the filed information can be found for viewing by electronic means by viewing the Company's filings on http://www.sec.gov/.
Lux Energy Corporation
Lux Energy is an oil and gas production and exploration company focusing on developing oil and gas resources in North America.
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