The well has an average initial flowing rate of 82 barrels of oil per day and 500mcfd of natural gas after a hydraulic frac.
Osyka, through its wholly owned subsidiary Osyka Permian, participated in the completion of the Wilson 35-15 No 1 discovery well. The exploration well was drilled to a total depth of 11,943ft on November 24, 2009 and found several pay sands.
Multiple tests were conducted on the well during February and March 2010. Osyka has a working interest of 23.3% and Venture Oil and Gas, the operator and other partners own the remainder. The joint venture is currently evaluating the location for an offset appraisal well.
Currently, the company has an interest in approximately 18 wells in Texas and Mississippi, with an average working interest of 70%.
