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Young Oil Corp. Hits 100 Barrel a Day Well in Tennessee

Posted on: Friday, 9 November 2007, 12:00 CST

KNOB LICK, Ky., Nov. 9 /PRNewswire/ -- The Young Oil Corporation announced here today that it has drilled in a new oil well in Fentress County with an initial production potential of more than 100 barrels of oil a day.

The Robert Cole #2, located in the Little Crab community about six miles west of Jamestown, began flowing oil when drilling reached the Sunnybrook formation at less than 1,000 feet.

"We hit oil in several breaks and finally had to stop drilling because of all the oil the well was making," said Anthony Young, CEO, Young Oil Corp.

"We began drilling this second well in the field as we are still evaluating the first well, the Cole #1. We were not at all surprised when this well began flowing. We picked this spot to drill because in 1937 a well was drilled in this area that came in flowing 2,000 barrels of oil a day.

"We have more than 1,000 acres of leases around this new well and we expect to drill many more successful wells in the area. We selected this area for development because of the potential for production from both shallow and deeper depths," Young noted.

"It looks like we may have another Newberry field here," Young said, referring to the Newberry field discovered by Young in 2004.

The Newberry #11 came in flowing at a rate of 1,728 barrels of oil a day in September 2004. It was the eighth producing well in the field, located in Overton county, about ten miles northwest of this new Fentress County discovery.

Wells in the Newberry field produce oil from several Pennsylvania and Ordovician age formations. The field is still producing today.

Young's most recent Tennessee discovery came in March 2007 when the Richard Norrod #1 came in flowing 1,944 barrels of oil a day from the Murfreesboro formation at a depth of 1,400 feet. This field is located about nine miles west of the new Robert Cole #2 well.

Young said he will begin drilling offset and step out locations around the Cole #2 in the very near future to capitalize on the current oil prices of nearly $100 per barrel.

Young Oil Corporation is a privately owned oil and gas exploration and production firm, with operations in Kentucky and Tennessee. Young utilizes its own drilling rig to drill all its wells. The Tennessee Oil & Gas Association named Anthony Young Tennessee Oil Man of the Year in 1999 and 2004.

Young Oil Corporation

CONTACT: Anthony Young of Young Oil Corporation, +1-270-453-3208

Source: PRNewswire

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