The company owns a 15% working interest with a respective 11.25% net revenue interest under the Epley project. The Eagle Ford shale underlying the Epley lease was encountered at a true vertical depth of approximately 10,900′ after which a horizontal lateral was successfully drilled in excess of 4,000ft.
The well has been cased and is currently being prepared for multi-stage fracture stimulation, scheduled for mid-August. Based on successful completion results of the initial well, Doxa anticipates that up to five gross wells will be drilled on the Epley project and that over 35 gross wells could ultimately be drilled on the company’s current Eagle Ford Shale holdings.
Overall in the Eagle Ford trend, Doxa currently owns working interests ranging from 14% to 20% under 4,832 gross acres and expects to be involved in three additional wells this year followed by additional wells in 2011.
