The well will target oil bearing sands and limestones using horizontal drilling and dynamic fracturing techniques.

Morse Unit #1 is the first horizontal well in the drilling program of the company’s Cornerstone project.

Pegasi Energy is focused on a repeatable, low geological risk, high potential project in the active East Texas oil and gas region.

The company said its strategy is focused on establishing a portfolio of drilling opportunities to exploit undeveloped reserves to grow production, as well as undertaking exploration to grow future reserves.