UTOG news today..UnionTown Energy Inc. (UTOG) Starts Drilling Program on Teton River Property
6:30a ET June 23, 2011 (Market Wire)
UnionTown Energy Inc. (OTCBB: UTOG) (PINKSHEETS: UTOG) is pleased to announce that it commenced drilling its first well on its Teton River property yesterday. Drilling operations on the Teton #1a-10 well are expected to last 3 to 5 days.
As reported by the company's operator, unusually heavy rainfall in the region had caused a delay in the start of the program, but the property had dried out sufficiently by early this week to move the drilling rig on site last Monday.
The Teton #1a-10 is one of a planned group of six wells UnionTown intends to drill at the Teton River Project. The well is being drilled vertically to a depth of 1975 feet. The drill target is the Swift Sandstone Formation.
In a previously drilled well on the Teton River Property, heavy oil was produced utilizing steam flooding. UnionTown already has an approved permit from the State of Montana in place for a planned 5-Spot operation upon completion of a successful drilling program.
"We are pleased to have commenced our drilling program on our second property as planned this quarter and shortly after promising oil shows from our first well on our New Miami property," said Darren Stevenson, UnionTown's President and CEO. "We are encouraged by this drilling opportunity as we are drilling very close to the previously producing Teton 10-3 well. Once we have the results from the first well, we will review the data with our reservoir engineers to define the further drilling and suitable production scenarios
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