The Gerald Grove H-7 oil well was drilled to a measured depth ("MD") of 4,734 feet and a true vertical depth (TVD) of 1,209 feet. Logs and other measurement data indicate that the horizontal section of the wellbore encountered 3,284 feet of oil-bearing sandstone.
The drilling rig is currently being moved to the Gerald Grove H-8 location, which will be the second well to be drilled in a planned 20-well development drilling program for the 2014-2015 fiscal year at the Twin Bottoms Field in Lawrence County, Kentucky.
James F. Westmoreland, President and chief executive officer, commented, "We are off to a good start with our drilling program for the year in Kentucky. The Gerald Grove H-7 and H-8 oil wells will be hydraulically fractured concurrently to the drilling of the Gerald Grove H-9 and H-10 oil wells. As these wells are all within close proximity of each other, we should be able to put them on production very quickly after completion operations have ceased."
Daybreak Oil and Gas, is an independent oil and gas company currently engaged in the exploration, development and production of oil and gas in California and Kentucky.
The company owns a 3-D seismic survey that encompasses 20,000 acres over 32 square miles with approximately 13,000 acres under lease in the San Joaquin Valley of California.
