The company said that plans are to drill to a total target depth of 6,800ft, at which time the well will be tapped by the operator.
Steven Weldon, chairman and CEO of Signature Exploration and Production, said: “Drilling operations at Koliba Well No 2 are near complete, and we are now closer to beginning production at the well.
“We look forward to providing additional progress reports as soon as they become available. As it looks now, we are on schedule to tap the well no later than next week.”
Signature Exploration owns a 15% working interest in the Koliba Prospect, a 173-acre lease located in the highly productive North McFadden Field near the town of Bloomington.
