This is from another article in the Adair County publication that had information on the recent well hit by Rome Oil.
Optimism is growing that there will be another Adair County boom
The strike has increased optimism about another boom in Adair County.
Jimmy Reliford thinks it will happen, and says, "I think it's going to be big," he says. "Everybody is going to get rich. Everybody," and adds, "everybody in the oil business. The drillers, the promoters, the oil field supplies, and the land owners, I mean."
He bases the assumption on two factors. 1) The earlier drillers and promoters didn't recover nearly all the oil here, he says, so there's big opportunity here. "Back then," he said of the 1970s boom here, "oil men thought they had to have 50 acres for each well. Now we putting wells down every five acres." And 2) The sky high price of crude today.
Oilman still looking for 'basement'; this time at 10,000 feet
Jimmy Reliford says that he also believes that the "basement" hasn't been reached in the Adair County field. He made an earlier attempt to find it when he sunk a 7,500 ft. well, which didn't pan out. Now, he says, he plans to go even deeper, to 10,000 feet.
"I've got the money raised right now to go 10,000 feet deep," he said. "I just have to study the best place to put it," Mr. Reliford said of the two mile deep bore.
Wherever the well is drilled, it will be in Adair County. "We're certain of that much," Joyce Reliford said.
With possible deeper wells into other oil formations, closer spacing in new drilling operations and current oil prices at $60 plus, it looks like Adair County is as good a place as any to be punching shallow wells (1500-2000 ft) with optimists looking at potential new finds at deeper depths. Works for me. And PBLS is right there in the middle of it.
AI
Market Data 
Markets 
