FORT WORTH, Texas--(BUSINESS WIRE)--Circle Star Energy Corp. (OTCBB: CRCL) provided an operational update regarding their second operated well, the Lynd 36-2, in Trego County, Kansas. The well has reached target depth of 4,100 feet. Based on drill stem tests and electric log analysis, the well has encountered multiple potential oil bearing reservoirs. Completion of the well will commence later this month.
CRCL CEO Jeff Johnson stated, “The analysis of data gathered during the drilling and testing process is very promising. We look forward to completing the well and reporting a production rate as soon as it is available.”
Trego County is the site of several major oil discoveries since the 1920s; in its history, the area has cumulatively produced 67,012,964bbls. CRCL operates the well and owns a 25% working interest and a 20% net revenue interest until payout of the Trego County well. Upon payout, CRCL will convert to a 43.75% working interest and a 35% net revenue interest after payout.
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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