SOURCE: Superior Oil and Gas
July 08, 2010 07:00 ET
Superior Oil and Gas Co. Initiates Horizontal Mississippian Drilling Program at the Lincoln-Lewis#1 Well
CALUMET, OK--(Marketwire - July 8, 2010) - Superior Oil and Gas Co. (OTCBB: SIOR) has secured a financial commitment and commenced the drilling and completion of a horizontal leg into the Mississippi Limestone off of its Lincoln-Lewis No. 1 well in Logan County, Oklahoma, announced Dan Lloyd, Jr., Vice President of Superior. "The Lincoln-Lewis No. 1 well is an excellent horizontal Mississippian starting location," said Lloyd. "It has 10 ¾ inch surface casing that allows for the deepest horizontal re-entry possible into the Mississippi Limestone. We plan on extensively utilizing horizontal drilling technology across the board. This should provide us with significantly higher recoverability of hydrocarbons, much higher initial productions and lower than normal risk as compared to vertical drilling."
Superior Oil and Gas Co. is an independent oil and gas developer and producer. It is looking forward to pursuing new joint ventures that will exploit unique oil & gas drilling and work-over opportunities. It has accumulated various oil and gas properties in Oklahoma.
This Press Release contains forward-looking statements based on our current expectations about our company and our industry. You can identify these forward-looking statements when you see us using the words such as "expect", "anticipate", "believes", "plans" and other similar expressions. These forward-looking statements involve risks and uncertainties. Our actual results could differ materially from those anticipated in these forward-looking statements as a result of our ability to complete required financings and other preconditions to the completion of the transactions described herein and Superior's ability to successfully acquire resources and produce its resources among other issues. We undertake no obligation to publicly update any forward-look statements for any reason, either if new information becomes available or other events occur in the future. We caution you not to place undue reliance on those statements.