Tenguy World International, Inc. Provides Details on Oil and Gas Properties
(firmenpresse) - HOUSTON, TX -- (Marketwire) -- 10/23/12 -- Tenguy World International, Inc. (PINKSHEETS: TGWI) provided details to shareholders today on its oil and gas investment. The Company purchased a working interest in the White 12-1 project located in Pottawatomie County, Oklahoma. The project currently has one producing well and one salt water disposal (SWD) well. The well produces on 40 acres from the Hunton Limestone oil bearing reservoir. This well was not previously fractured and has been producing from the natural reservoir completion for two years. Operating and lifting costs are at industry minimums. The Company is currently in the process of fracturing which will extend the producing limestone reservoir by an approximate 3 to 4 hundred foot radius beyond the existing flow structure. The fracture fluid will permeate the Hunton Limestone and substantially increase the porosity of the reservoir.
In addition to the producing well, the project has a salt water disposal (SWD) well nearby at its disposal for direct injection. The importance of onsite water disposal facilities is critical for reduced costs and environmental purposes.
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About Tenguy World International, Inc.
The Company was originally incorporated in 1923 in the state of Colorado. Tenguy World International is an independent oil and gas company engaged in the acquisition, exploration, development, and production of oil, natural gas, and natural gas liquids in the United States.
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Datum: 23.10.2012 - 06:37 Uhr
Sprache: Deutsch
News-ID 1162820
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