The company, through its joint venture with Fossil Energy as operator, will begin drilling operations in Kentucky next month, and the proven wells are expected to be completed within 90 days.
PGI Energy owns 40% of the project leases and will receive 75% of the net 80% NRI from the monthly production until payout of PGI contribution, and then drop to 50% net working interest.
US based PGI Energy is an energy holding company, and it is engaged in the acquisition of assets in the proven producing oil, gas assets, refinery, pipeline sectors of the energy industry and other synergistic assets.
