Nov 15 2013
Daybreak Oil and Gas, Inc. ("Daybreak" or the "Company"), a Washington corporation, is pleased to announce the drilling of a second successful oil well in the fall drilling program at the East Slopes Project located in Kern County, California. The Bear #9 well was drilled to 2,200 feet and encountered approximately 10 feet of oil pay in the Vedder Sand.
This well will be completed following the completion of the Bear #8 well, which is currently underway. Production results will be announced on both wells following production testing. The Bear #10 well, which is the final well of this three well drilling program, was drilled to 2,200 feet. The well did not encounter any oil bearing sand and was plugged and abandoned. The Company owns a 37.5% working interest in the Bear wells.
James. F. Westmoreland, President and Chief Executive Officer, commented, "With every well we drill, we gain valuable information about the oil reservoirs in the area. We knew we were exploring the outer limits of the Bear reservoir with the Bear #10 well, and while we are disappointed in the results of the Bear #10 well, we do have a number of viable locations left to drill at the Bear property. Also, we are in the process of obtaining final permits to begin developing our Ball property, and we look forward to the start of drilling scheduled for the spring of 2014."
Daybreak Oil and Gas, Inc. is an independent oil and gas company currently engaged in the exploration, development and production of oil and gas in California and Kentucky. The Company is headquartered in Spokane, Washington with an operations office in Friendswood, Texas. Daybreak owns a 3-D seismic survey that encompasses 20,000 acres over 32 square miles with approximately 13,000 acres under lease in the San Joaquin Valley of California. Daybreak also owns a 25% working interest in approximately 6,100 acres under lease in the Appalachian Basin in Lawrence County, Kentucky.
More information about Daybreak Oil and Gas, Inc. can be found at www.daybreakoilandgas.com.
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Source: http://www.daybreakoilandgas.com/