FORT WORTH, Texas--(BUSINESS WIRE)--Circle Star Energy Corp. (OTCBB: CRCL) announced today its second well, the Lynd 36-2, in Trego County, Kansas, has been spud. Drilling operations for the Lynd 36-2 well commenced on January 31, 2013 and are progressing as expected.
CRCL’s first well, the Lynd 36-1, in Trego County has been completed and is currently producing; CRCL anticipates announcing a 30 day production rate on or about March 1, 2013. CRCL owns a 25% working interest and a 20% net revenue interest until payout at which time CRCL will convert to a 43.75% working interest and a 35% net revenue interest after payout in both the Lynd 36-1 and Lynd 36-2 wells. Circle Star Operating, a wholly owned subsidiary of CRCL, operates both wells in Trego County.
Since the 1920s, Trego County has been the site of several major oil discoveries producing 67,012,964 cumulative bbls according to the most recent data provided by the Kansas Geological Survey.
About Circle Star Energy Corp.
Circle Star Energy Corp. is a performance-driven exploration & production company that is developing exposure to high-impact, large scale oil & gas plays via operated and non-operated positions; while establishing and building a base of low-risk, solid return and operated working interests.
CRCL is continuing its efforts in expanding its exposure in Northwest Kansas, which is also being pursued by other energy industry participants such as Chesapeake Energy Corp. (NYSE: CHK), Encana Corp. (NYSE: ECA), SandRidge Energy Inc. (NYSE: SD) and Apache Corp. (NYSE: APA).
For more information on CRCL’s unconventional resources initiative, please visit http://www.circlestarenergy.com/investors/stock-information
For further information, news and updates, visit Circle Star Energy:
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