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Homeland Resources Ltd. has reported the next two spud dates for drilling at the Liberty Ridge Oil and Gas Project in Oklahoma.
Homeland and its partners have determined that well #2 will be spud on July 1st, 2013 and well #3 will be spud on July 6, 2013. The new wells are expected to target two separate high priority exploration prospects as part of the ongoing 8 well Phase-1 drill program currently underway at Liberty Ridge. These scheduled spud dates are subject to weather conditions.
Armando Garcia, President of Homeland Resources, commented: "We are very pleased that the operator, despite high local demand, was successful in securing a second rig for the Liberty Ridge project and plans to start drilling two wells simultaneously in early July. Since we plan to potentially participate in drilling numerous wells at Liberty Ridge throughout the next year, accelerating the process with the addition of a second rig should give the program a significant logistical and economic boost."
The exploration and development objectives at the Liberty Ridge Project aims to target potential new discovery oil and gas fields in 2nd Wilcox sand, 1st Wilcox sand, Trenton dolomite, Simpson dolomite, Viola limestone, Hunton limestone, Bartlesville sand and Redfork sand formations, each of which are known to have been productive in the region.
The Liberty Ridge project is a multi-well multi-phase exploration drill program currently being conducted by Homeland and it partners. The Phase-1 drilling program at Liberty Ridge consists of eight (8) wells selected from at least 34 distinct high-graded prospects generated by the partnership's proprietary 3D seismic database covering the entire 83,043 acres (130 square miles) project area. Drilling at the Liberty Ridge project is expected to continue throughout 2013-2014.