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TICKERS: AMAZ

Oil & Gas Explorer and Developer to Drill First Horizontal Well
News Update

Source:

This Texas-based company is shifting its focus to another formation in the Permian Basin.

Amazing Energy Oil & Gas Co. (AMAZ:OTCQX) announced in a news release that spudding of its WWJD #31H well in Pecos County, Tex., should begin by year-end 2018. The rig should be mobilized around Dec. 26 or 27, with the start of drilling immediately thereafter.

WWJD #31H will be "the company's first horizontal well," and it will be in the Permian Basin's San Andres Formation, CEO Will McAndrew noted in the release. Previously, Amazing was targeting the Queen Formation with shallower, vertical wells.

This horizontal leg, WWJD #31H, will consist of a 1,600-foot section with a measured depth of about 4,000 feet. The well will be laterally situated to the original vertical wellbore of WWJD #31, drilled in Q1/18.

"Unlocking the potential of the prolific San Andres, as we have seen many of our peers do in recent months, will set the tone for acceleration of our development and production plans for 2019 and beyond," added McAndrew.

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Disclosure:
1) Doresa Banning compiled this article for Streetwise Reports LLC and provides services to Streetwise reports as an independent contractor. She or members of her household own securities of the following companies mentioned in the article: None. She or members of her household are paid by the following companies mentioned in this article: None.
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