The well is the first of a proposed development program targeting a minimum of 20 gas wells to be drilled across the acreage.

The prospective well is located adjacent to the town of Ozona in Crockett county, Texas. The Ozona region has over 115 working wells currently in production and the program is deemed to be relatively low risk as the formational sands being tested are well known and historically documented as producers.

Shane Lowry, Galloway Energy president and chief executive officer commented, “We look forward to the results of testing with an optimistic view towards a successful outcome, especially given the available geologic data and nearby preponderance of producing wells. Next week’s news could be of considerable benefit to Management’s near-term planning.”