The Gradyville oil field is located in south central Kentucky. It extends northwest to southeast and covers portions of the Columbia and Gradyville areas. Several hundred oil wells have been discovered and produced in this field.
Kentucky geological survey states that many of the wells in this area have produced consistently at initial rates of 100-200 barrels of oil per day out of the Murfreesboro and Knox formations.
Allan Millmaker, CEO of Alamo Energy, said: “We are delighted to have concluded this deal in this highly sought-after area. The decision to drill these five wells has been based on geology gleaned from the Kentucky Geological Survey (KGS) together with hydrocarbon predominance data that has been collected over a nine-month period.”
The company’s UK exploration program is focused on four blocks spread over 154sq miles in an onshore oil and gas province in South East England. Subject to regulatory approvals, Alamo will acquire a 90% working interest in the region and be given operator status for the defined area. Alamo’s US operations are focused on the development of key assets in Texas and Kentucky.
