Xtreme Oil & Gas’ 5-Star Project to Commence Injection

abarrelfull wrote on 28 Oct 2011 06:08
Tags: upstream usa xtreme

Latest News

• Want a weekly review of refining news?

• This Week in Refining
• RSS Feed

Xtreme Oil & Gas, Inc. (OTCBB: XTOG) (OTCQB: XTOG) an independent energy company engaged in the exploration, development, acquisition, and production of crude oil and natural gas, announced three new completed wells on the Company’s West Thrifty property in Brown County Texas passed final testing with the Railroad Commission of Texas allowing us to begin injecting water into our 5-Star Well project. These wells were completed in the Fry Sands formation and the Company expects to begin the injection process in November.

Willard G. McAndrew III, CEO of Xtreme, commented, “Passing these tests is the last critical step we needed to finish before beginning our water injection, with results expected by year end. By using a targeted water-flooding methodology within this 1,200 acre Texas property, we expect to significantly increase our daily oil production from this project. Additionally, geological studies imply we could copy this method in over a dozen additional locations on this property. As we layer on revitalizing well projects, like our 5-Star Well project, to salt water business, we continue to see leverage in our model with the added upside of future drilling projects.”

• Xtreme Oil & Gas’ 5-Star Project to Commence Injection

---