GeoResources - Fayette County Eagle Ford Update

Fayette County is attracting more interest and positive results from GeoResources will only fan the fire of the oil boom. Both wells produced more than 1,200 barrels per day during initial test.  That's good for anywhere in the Eagle Ford Shale.

"We recently successfully drilled and completed our first two Eagle Ford wells in our operated project area in Fayette County, Texas. ""We also recently completed drilling our third Eagle Ford well, the Black Jack Springs #1H well, in which we have a 44.1% working interest. After drilling the Black Jack Springs #1H well, the drilling rig was moved to drill the West Cannon Unit #1H well in our Giddings Austin Chalk Field development area in Grimes County. After drilling the West Cannon Unit, the rig will return to our Eagle Ford project in August 2011 and will continue drilling Eagle Ford wells."


"Since April of 2010 we have acquired 24,000 net acres in the Eagle Ford Trend with acreage primarily located in southwest Fayette and northern Gonzalez counties. Our plan is to add a second dedicated drilling rig in the fall of 2011 and a third rig in early 2012 and potentially a 4th rig in mid-2012. Our intent is to significantly accelerate our Eagle Ford drilling in the second half of 2011 and into 2012. As we move forward in our development of this project area, we expect each of our operated rigs to drill 8-10 gross wells per year."