The company will hold a 10% working interest in this prospect, which has the potential for multiple wells.
According to the company, the initial well in the prospect will be drilled to a depth of about 7,500ft to test the prospective zones in the Wilcox formation.
Bering Exploration VP of finance Steven Plumb said the prospect has great upside potential and is expected to be drilled in the next two months.
"This prospect meets our criteria of participating in projects which provide the company the maximum amount of value with a minimal amount of risk," Plumb said.
US-based Bering Exploration focuses on identifying, developing and acquiring potential natural gas and oil wells in the Gulf Coast onshore region.
