FIELD ACTIVITIES / Oilexco Dry Hole
OILEXCO INCORPORATED - SOUTH LAKESIDE #1 WELL UPDATE
CALGARY, ALBERTA--
Oilexco Incorporated advises that its South Lakeside #1 well
(9.5% W.I.) has been abandoned at total depth of 17,562 feet. The
well intersected the targeted sands at a structurally high
position. Natural gas was identified in the sands but due to poor
overall reservoir quality, the well was deemed uneconomic and
subsequently abandoned after evaluation.
Oilexco continues to pursue its other opportunities including its
previously announced Jurassic Park oil discovery in Monroe
County, Alabama which is expected to be placed on production by
the end of the month.
For further information, please contact Arthur S. Millholland,
President or Dennis J. Kwan, Vice President, Finance at (403)
262-5441. Oilexco is a Calgary, Alberta based oil and gas
exploration company listed on the Alberta Stock Exchange under
the trading symbol "OIL".
The Alberta Stock Exchange has neither approved nor disapproved
the information contained herein.
Suite 1710, 639 - 5 Avenue S.W.
Calgary, Alberta, Canada T2P 0M9
Telephone: (403) 262-5441 Fax: (403) 263-3251
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