Mogul, the operator of the Stafford Well #1, expects the drilling to be done to total depth of 7,400ft.
The company said that following the completion of the drilling, logging and any additional testing will be done immediately.
Mogul, with its 15% net working interest, together with its partners, will test several prospective zones within the Frio formation.
The pending results of the first well will determine if additional offset locations will be immediately planned.
Mogul Energy president and CEO Tim Turner said that with the drilling permit approved, the signed drilling contract in hand and the funds in place, the company is ready to spud the well as soon as possible.
Drill site preparations have been initiated and as soon as that is complete, we will look to move the rig onto the location and begin drilling operations," Turner said.
