Young Oil Corporation Hits 3 Oil Wells in As Many Attempts in Adair County, KY
Posted on: Thursday, 13 December 2007, 00:00 CST
KNOB LICK, Ky., Dec. 13 /PRNewswire/ -- The Young Oil Corporation announced here today that it has drilled in 3 new oil wells, in as many attempts, in Adair County, KY with a combined initial production potential of more than 100 barrels of oil per day.
The 3 wells are located on the Danny Burris lease in the Gradyville community about 7 miles west of Columbia, KY.
"We chose this series of sites because of the rich history of oil in this general area and its geological similarities and proximity to the Willie Nell well that has been reported to have produced more than $26 million worth of oil since 1969, and is still reportedly producing 14 barrels of oil per day," said Anthony Young, CEO, Young Oil Corp.
"We have a large lease position around these new wells 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 Norrod well in this field," Young said, referring to the Richard Norrod #1 discovered by Young on March 9, 2007. The Norrod #1 came in flowing at a rate of 1,944 barrels of oil per day from the Murfreesboro formation at a depth of 1400 feet.
Young has a history of finding the big ones, as noted in 2004 when the eighth well in the Lucy Newberry Field was drilled in, it flowed for more than 20 days at 1728 BOD and that field is still producing today.
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 rigs as well as contract partners 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: Michael Branstetter, Administrative Director, +1-270-576-8372,mbranste@scrtc.com
Web site: http://www.youngoilcorp.com/
Source: PRNewswire
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