The well is expected to begin production this month and it will produce 50 to 75 barrels of oil from the Wilcox formation.
The company will have a 10% working interest in the Ashland prospect which has the potential for multiple wells and potential gross reserves of 500,000 barrels of oil.
US-based Bering Exploration focuses on identifying, evaluating, developing and acquiring potential natural gas and oil wells in the Gulf Coast onshore region.
