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CRCL completes drilling of second well in Trego County, Kansas

Friday, Feb 08, 2013

Circle Star Energy Corp. (OTCBB: CRCL)provided an operational update regarding their second operated well, the Lynd 36-2, in Trego County, Kansas. The well has reached target depth of 4,100 feet. Based on drill stem tests and electric log analysis, the well has encountered multiple potential oil bearing reservoirs. Completion of the well will commence later this month.

“The analysis of data gathered during the drilling and testing process is very promising. We look forward to completing the well and reporting a production rate as soon as it is available.”

CRCL CEO Jeff Johnson stated, “The analysis of data gathered during the drilling and testing process is very promising. We look forward to completing the well and reporting a production rate as soon as it is available.”

Trego County is the site of several major oil discoveries since the 1920s; in its history, the area has cumulatively produced 67,012,964bbls. CRCL operates the well and owns a 25% working interest and a 20% net revenue interest until payout of the Trego County well. Upon payout, CRCL will convert to a 43.75% working interest and a 35% net revenue interest after payout.

Source: Business Wire

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