Tekoil began exploration on January 14 in northwestern Newfoundland, near Port au Choix, as part of an agreement with Ptarmigan Resources.
Tekoil & Gas Corporation announced today the spud (start of drilling) of exploration well Glori E-67. Contract work was awarded to Newfoundland owned and operated, P. Sullivan & Sons Co. Ltd. to set conductor casing. The company said that drilling began on January 14, 2008, and it is estimated this onshore portion of the program will take 20 days to complete.
Tekoil's Chairman and CEO, Mark Western said: "This is a true milestone in our young company's history, following two and a half years of exhaustive planning. Exploration in western Newfoundland has been one of our goals since inception, and we have finally made it."
Ptarmigan Resources Ltd. ("Ptarmigan") has mapped four prospects within the Ordovician carbonate platform in the Foreland Basin, and farmed out to Tekoil in January 2007. In addition to the Foreland Basin setting, Ptarmigan has also mapped two prospects in the hanging wall of the regional thrust, and these prospects are comprised of the same Ordovician carbonate reservoir systems. It is within the hanging wall that Glori E-67 will be drilled.
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