Recovery of the fluids used during the workover efforts has commenced and the company currently anticipates returning the well to production within the next week.
The partners have also submitted a horizontal well license application for an offset location in the targeted drilling area and hope to commence drilling a second horizontal well during the fourth quarter of 2010.
Dick Findley, president and CEO of AEE, said: “We are hopeful that the newly acquired Hardy well can be returned to its historical production levels, which will provide early cash flow and serve as a springboard for future drilling efforts in the area.”
AEE has named Tom Lantz as its vice president of operations. Eternal Energy is an early stage oil and gas exploration and development company.
