Strategic American Oil Corp. (SGCA) Announces Completion of New Zone in Welder Ranch Well
Shortly before the opening bell today, Strategic American Oil Corp. announced that it has successfully recompleted a "behind pipe" zone in its Welder #5 well located on the Welder Ranch in Calhoun County South Texas. According to the press release, the Welder #5 was marginally profitable before the recompletion, but now it is flowing more than 310 Mcf of gas and 2 barrels of condensate per day without the aid of artificial lift. This well alone now contributes an estimated $22,000 in additional net monthly income to the company at current commodity prices. "This recompletion is one of numerous projects…