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Company Press Release
SOURCE: ARXA International Energy, Inc.
ARXA Announces Sixteenth Successful Shallow and First Deep Completion in West Lavaca River Field
HOUSTON, Aug. 6 /PRNewswire/ -- ARXA International Energy, Inc. (OTC Bulletin Board: ARXA - news) announced today successful completion of the Brezik #1 in West LaVaca Field, LaVaca County, Texas. The Brezik #1 is ARXA's sixteenth successful well in the field, with completions in various zones ranging between 1,800 feet and 5,100 feet. Also announced was the successful completion of the Sartwelle #3, also in West LaVaca Field. The Sartwelle #3 is the initial test well in a much deeper Wilcox formation play.
Craig Ford, President and CEO of ARXA, stated that ''The Brezik well is the sixteenth successful completion in a twenty well program. This success rate is somewhat above the industry norm for developmental drilling. There are two shallow wells being drilled at this time and there is sufficient acreage under lease for additional wells. Because of our statistical success rate in the shallower zones, ARXA will participate aggressively in further drilling proposals.'' Mr. Ford went on to explain ''The Sartwelle discovery is an excellent well, however Wilcox wells are expensive relative to our budget and we will look very carefully at each future drilling proposal in the Wilcox.''
ARXA International Energy, Inc. is a fully reporting public company engaged in oil and gas reserve acquisition and development in the US. For information contact Chris Skipper, Shareholder Relations 281-444-1088. On the Internet, contact George Bentley at ccnet.com\001spg/arxa/.
This press release contains forward-looking statements, such as future development activity. ARXA notes that there are a variety of factors which could cause the actual results to differ materially from the anticipated results expressed.
SOURCE: ARXA International Energy, Inc. |
