Lux Energy is in Final Negotiations to Participate in Two Additional Wells in West Central Alberta
July 15 2009 - 3:00PM
PR Newswire (US)
CALGARY, July 15 /PRNewswire-FirstCall/ -- Lux Energy Corporation
(OTC.BB:LUXE) is pleased to announce that it is in final
negotiations to acquire a working interest in two gas wells in the
Bigoray area of West Central Alberta. These two wells are capped
re-completion wells in an area with proven production. These wells
are projected to produce approximately 570,000 cubic feet of
natural gas per day or approximately 100 barrels of oil equivalent
per day. This well also contains condensate which is sold at a
premium to current oil prices, condensate includes Propane, Butane,
and Light Gravity Crude Oil. Because these wells are already
drilled, they are supported by well logs, seismic, and subsurface
mapping. There are multiple producing formations under this area
including Viking, Glauconite, Detrital, and Pekisko. Well A was
hooked up and tied into the pipeline in March of 2009. Shane
Broesky, President of Lux Energy, stated, "This two well program
will provide Lux Energy with another significant asset to our
rapidly expanding portfolio of oil and gas production in Central
Alberta. We believe that it is time to be aggressive in our
acquisition of these low risk production programs while continuing
to increase our bottom line." DATASOURCE: LUX Energy Corporation
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