The Illinois oil well with multiple producing pay zones could potentially result in a lucrative monthly production of oil. The wells in this area have a history of oil production longevity and this well will be better defined as the depth of 1,900′ is accomplished. The company could drill many more wells on this 400 acre lease once this well is completed.
UC Hub Group has been drilling and repairing equipment straight through the holidays and weekends to reach these pay zones of oil and has successfully drilled to a depth of 1,060′ today. Now that the driller has confirmed oil in the first pay zone, the company will repair some of the equipment over the next week and then begin drilling further down to the Basil Penn and Cypress oil pay zones. The company anticipates more pay zone information over the next few weeks and is in discussions presently with more oil and gas lease opportunities. The company is excited to share the success of this hard work and effort on the first oil well and thanks the shareholders for their patience.
