IRVING, TX (October 1, 2009) – Breitling Oil and Gas Corp. plans to spud the BREITLING-STAR #1, its first well in its Hardman Basin project, in the forth quarter of 2009.
Breitling presently owns a 25% working interest in approximately 850 acres onshore in Hardeman County, Texas. This leasehold position consists of multiple separate target areas that have been selected for exploration with the first being the BREITLING-STAR #1 project. The acreage may be prospective for both oil and conventional gas production, the company reports.
The company reports that is currently preparing to close the final investor funding for the project and late December 2009 is the earliest window during which Breitling can efficiently drill, complete and test the BREITLING-STAR #1 well while maintaining a tight control on project costs.
In preparation for drilling the BREITLING-STAR #1 well, Breitling has identified a drilling rig, surveyed the proposed well location, completed the initial site permitting phase of the project, and secured all bonds required for drilling within Texas and secured James Smith & Associates as the drilling operator. Construction of the BREITLING-STAR #1 well pad and access road is expected to be completed in early December.
Breitling has current oil and gas exploration projects all over the United States.
—About Breitling Oil and Gas Corporation–
Breitling Oil and Gas was founded in April 2003 to apply state-of-the-art petroleum and natural gas exploration and extraction technology to the development of onshore oil and natural gas projects. Our focus areas include Texas, Oklahoma and Louisiana. Breitling offers oil and gas investment opportunities through direct participation programs and oil and gas investment joint ventures which enable investors to participate in the potential cash flow and unique tax benefits associated with oil and gas investments. Especially important in a downturned economy, oil and gas investments allow savvy investors to diversify and reinforce their investment portfolios with a stable commodity that is in steady demand.