Breitling Oil and Gas Readies Drilling Plan for Breitling-South Cadena #1 Prospect
IRVING, TX (February 10, 2011) –
Breitling Oil and Gas Corporation, an independent exploration and production company based in Irving, Texas, plans to begin drilling the Breitling-South Cadena #1 in South Texas. The prospect is located in the Cadena Field in Duval County, seven miles Southwest of San Diego, Texas. The field has produced over 2 million barrels of oil and 17 BCF of natural gas. The proposed location is for a 6,000 foot test of six potential productive zones including the Cole Sand, Hockley Sand, Pettus Sand, Hiawatha Sand and the prolific Yegua 1 and Yegua 6 Sands
This leasehold position consists of multiple separate target areas that have been selected for exploration with the first being the Breitling-South Cadena #1 project. The company reports the acreage may be prospective for both oil and conventional gas production. Based on engineering and reservoir analysis, the estimated cumulative production could be as high as 940,000 barrels of oil and 2 BCF of natural gas.
The company reports that it plans to spud the Breitling-South Cadena #1 on February 12, 2011. “We have a great acreage position located on the up-thrown side of Tesora-Cadena fault system that runs all the way down to the coast,” says Chris Faulkner, Chief Executive Officer for Breitling. Faulkner added, “Our mapping and surrounding logs show we have seventeen feet of the Yegua 1 oil leg that can easily produce over 400,000 barrels of oil if it comes in and great serendipity up the hole.”
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.