Westerly expects the Hull #1 to continue to improve in both oil and natural gas rates in these formations.
Based on the success of this initial well, the operator has said that the second well on the Greater Joe Mill Project is expected to spud within the next 30-60 days.
The Greater Joe Mill Project comprises 4,700 gross mineral acres and has proven reserves of approximately 60mmboe per well and includes 29 proven well locations.
The project is a low risk, long reserve-life drilling venture designed to provide a stable cash flow base for the development of the company, according to the company.
