Paxton Energy, Inc. (PXTE.OB) Set to Present at the RedChip Small Cap Conference in New York City in August
Paxton Energy, Inc. (PXTE.OB) reported earlier this year that sales of crude oil and natural gas have commenced effective May 25, 2007, from the Fiedler No. 1 discovery well for a new Olmos field at Storey Ranch, La Salle County, Texas. In May, the Fiedler No. 1 was producing natural gas at rates of 50-100 thousand cubic feet of gas per day (mcf) through an 18/64 inch choke and 58 barrels of oil per day. Production characteristics from the Fiedler No. 1 well are expected to be consistent with existing production in the area from other Olmos fields. The Fiedler No. 1 well…