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Strata-X Energy Ltd. to Drill Maverick County, Texas Eagle Ford Well on JV Lands
Strata-X Energy Ltd. to Drill Maverick County, Texas Eagle Ford Well on JV Lands Calgary, Al...
About this update from Decimus Oil Corp.
[{"type":"text","content":"Strata-X Energy Ltd. to Drill Maverick County, Texas Eagle Ford Well on JV LandsStrata-X Energy Ltd. to Drill Maverick County, Texas Eagle Ford Well on JV Lands\nCalgary, Alberta CANADA, October 29, 2013 /FSC/ - Jadela Oil Corp. (JOC - TSX Venture), (\"Jadela\" or the \"Corporation\") wishes to advise that on October 24, 2013, Strata-X Energy Ltd. (\"Strata-X\") announced that it has contracted Unison Drilling, Inc. of Devine, TX to utilize their rig #11 to drill Cinco Saus Creek #1 and expects the rig to be mobilized to the location by the first week of December 2013.  Strata-X announced that the location is currently being permitted and that Strata-X anticipates receiving all required regulatory approvals by late November.  Strata-X announced that the Cinco Saus Creek #1 is designed and is being permitted as a vertical test of the targeted Eagle Ford formation in the Maverick Basin.   Strata-X anticipates coring approximately 600 feet of the targeted Eagle Ford shale and Buda formations. The Cinco Saus Creek #1 well is to be located in Survey 9 Abstract 148 south of Jadela's El Indio #1H Eagle Ford well.  Jadela has a 6.5% working interest in the mineral rights and the operations are subject to a joint operating agreement. Jadela has not received an Authorization for Expenditure or other well information.\nJadela has oil and gas mineral lease rights to 8,307 gross acres and 1,201 net acres on the Cinco Ranch. Jadela has a 65% working interest in 660 gross acres (430 net acres) as a result of drilling and completing El Indio #1H.  The well is producing limited quantities of oil.  Jadela is entitled to all proceeds from El Indio #1H until payout.  Jadela is the operator.  \nStrata-X  has acquired mineral leases covering 10,945 gross acres (8,846 net acres) on the Cinco Ranch which will expire in November 30, 2015 of which Jadela has mineral rights in approximately 7,647 gross acres (771 net acres) with working interest ranging from 6.5% to 12.5%.  In addition, Jadela has an area of mutual interest right to acquire a 25% co-ownership interest in up to approximately 2,099 gross acres on the Cinco Ranch if any part of such mineral rights have not been leased upon such mineral rights being leased.  Jadela has an area of mutu...