Breitling Oil and Gas Readies 2011 Re-Entry Plan for Breitling-Crusader #1 Prospect
IRVING, TX (December 17, 2010) –
Breitling Oil and Gas Corporation, an independent exploration and production company based in Irving, Texas, plans to begin its re-entry program on the Breitling-Crusader #1, the second well in its recently formed “Gulf Coast On-Shore Expansion” initiative. As part of the project, Breitling will re-enter an existing oil and natural gas well which had previously been in production and was shut-in. The prospect is located in Jefferson County about 3 miles east of Port Arthur, Texas.
Breitling is set to finalize the engineering work by December 20 and move on location in January 2011. The company anticipates it will be on location 3 weeks and plans to subsequently re-complete the well for commercial production as soon as possible thereafter.
Based on previous production and the ability to perforate additional up-hole zones, Breitling anticipates bringing this well online with an initial production of 250 barrels of oil per day.
In preparation for the re-entry of the Breitling-Crusader #1 well, Breitling has identified a coil tubing rig, re-surveyed the existing well location and completed the surface work and site permitting phases of the project.
For more information on this and other activities of the Company, see the Breitling Oil and Gas web site at http://www.breitlingoilandgas.com.
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 October 2004 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.