The zone identified oil in required quantities to start with plans for fracture stimulation and horizontal drilling operations at the Holmes Oil Unit Number 1 in Cherokee County.
Currently, the company engineer is assessing the pressure information obtained for final calculations with respect to fracking procedures while work is schedule to begin work in the coming days.
Horizon Energy president and CEO Robert Bludorn said that reservoirs with rock characteristics such as those identified in the zone have been found suitable for fracturing and horizontal drilling.
"We are pleased this valuable data confirms the presence of producible hydrocarbons," Bludorn added.
The Holmes Oil Unit Number 1 well is situated in a demonstrated producing trend productive from several different reservoirs since the 1930s.
Horizon Energy is engaged primarily in the acquisition, exploration and development of properties for the production of crude oil and natural gas, onshore in the US.
