SOURCE: Daybreak Oil and Gas, Inc.

March 27, 2014 12:27 ET

Daybreak Oil and Gas, Inc. Adds Another Successful Well to Kick-Off 2014 Kentucky Drilling Program

SPOKANE, WA--(Marketwired - Mar 27, 2014) - Daybreak Oil and Gas, Inc. (OTCQB: DBRM) ("Daybreak" or the "Company"), a Washington corporation, is pleased to announce that the Gerald Grove H-7 oil well has been drilled at the Twin Bottoms Field in Lawrence County, Kentucky. The Gerald Grove H-7 oil well was drilled to a measured depth ("MD") of 4,734 feet and a true vertical depth ("TVD") of 1,209 feet. Logs and other measurement data indicate that the horizontal section of the wellbore encountered 3,284 feet of oil-bearing sandstone. The drilling rig is currently being moved to the Gerald Grove H-8 location, which will be the second well to be drilled in a planned 20-well development drilling program for the 2014-2015 fiscal year at the Twin Bottoms Field in Lawrence County, Kentucky.

James F. Westmoreland, President and Chief Executive Officer, commented, "We are off to a good start with our drilling program for the year in Kentucky. The Gerald Grove H-7 and H-8 oil wells will be hydraulically fractured concurrently to the drilling of the Gerald Grove H-9 and H-10 oil wells. As these wells are all within close proximity of each other, we should be able to put them on production very quickly after completion operations have ceased." 

Daybreak Oil and Gas, Inc. is an independent oil and gas company currently engaged in the exploration, development and production of oil and gas in California and Kentucky. The Company is headquartered in Spokane, Washington with an operations office in Friendswood, Texas. Daybreak owns a 3-D seismic survey that encompasses 20,000 acres over 32 square miles with approximately 13,000 acres under lease in the San Joaquin Valley of California. The Company operates production from 20 wells in our East Slopes project area, Kern County, California. Daybreak also owns an average 25% working interest in five producing oil wells and has approximately 6,400 acres under lease in the Appalachian Basin in Lawrence County, Kentucky.

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