KRSYF - KRS TSX.....we'll take it!
Art
Kroes Energy announces successful development well
CALGARY, Sept. 15 /CNW/ - Kroes Energy Inc. (TSX Venture: KRS) announced
today that development well No. 301 produced an average of 183 bopd (82
barrels net to Kroes) on a six day production test in the Lelyaki oilfield in
Ukraine. Kroes has a 45% interest in the Kashtan Petroleum Ltd. joint venture
that has the license to operate the Lelyaki oilfield.
Fred Callaway, President of Kroes, stated that "these production test
results from well No. 301 confirm the prospectivity of the K1 zone. Well No.
301 is significant because it contributes toward Kroes' growing production
from the Lelyaki oilfield".
Well No. 301 is the first follow-up well to well No. 305 that was drilled
and placed on production earlier this year. Both wells produce from the K1
formation, which is located below the main P1 - P2 producing sands. Well No.
301 will be placed on production shortly. Meanwhile, the rig is being moved to
the next location where well No. 303 will commence drilling in the next few
weeks. Well No. 303 is being drilled as a P1 - P2 development well.
Kroes Energy is a junior oil and gas producer and explorer participating
in the Lelyaki Oilfield redevelopment project in Ukraine, one of Eastern
Europe's fastest growing economies. Kroes has a strong management team, with
extensive international experience. Shares trade on the TSX Venture Exchange
under the symbol KRS.
****My uninformed opinion only...do your own due diligence****
