The explorer wants to follow up the Eblana 1 well which unearthed an oil accumulation on the Hot Creek Valley project area
US Oil & Gas Plc (LON:USOP) has contracted a rig for a planned drill programme in Nevada.
The company, in a statement released after market close on March 29, the explorer said it had signed up Capstar drilling (a unit of Oil States International Inc) for up to two wells (Eblana-3 and Eblana-6).
It is anticipated that the rig will be mobilised to the company’s Hot Creek Valley project area from April 6 and the company intends to announce details of the planned spudding in due course.
“We are pleased to have secured a state-of-the-art drilling rig for our upcoming campaign in Nevada,” said Brian McDonnell, USOP chief executive.
“On behalf of the board, I would like to express our sincere appreciation of shareholders’ support for the rigorously systematic approach the company has taken to the exploration process in a pioneer region of complex geology.
“We believe our extensive and thorough programme of data collection has reduced risk as far as possible as we explore what we hope will prove a major oil field in Hot Creek Valley.”