Victory Energy Corporation (VYEY.OB) announced that the surface pipe on the company’s second well is currently drilling. This new well, located in the Canyon Sandstone gas zone, is poised to help the company grow tremendously over the next fiscal year.
Victory has also announced that the first well in this zone was successfully drilled to depth. The company performed a drill stimulation that was able to fracture the gas zone and flow oil into the well bore. Currently, machinery has moved into the well location to begin the final production measures before testing. The Corporation should have preliminary testing results by February 22.
John Fullenkamp, President of Victory Energy, stated, “Due to our own internal level of expertise, coupled with the experience and knowledge of the drilling contractor and completion engineers selected by the Corporation, we are well ahead of our completion and drilling time frames for these two wells. This currently provides for the Corporation to maintain a schedule of drilling up to two wells per month for the next several months.”
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