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OTC BB: LUXE
Lux Energy Corporation Announces Double Expected Production Results and Longer Well Life
2009-07-29 09:00 ET - News Release
LUXE: OTC-BB
CALGARY, July 29 /PRNewswire-FirstCall/ - Lux Energy Corp (the "Company") is pleased to announce that the "B" well they are currently negotiating blew over double what was anticipated.
The well drilled to 1900 meters bottom hole gas zone "Glauconite." This well was opened up and blew in at 580,000 mcf at 1000 psi with 9/bbl fluids recovered within the first hour. This well blew in at 1 million mcf initially and blew 11 years ago after the 10 ton fracture.
"The flow tested for a day and shut in. We believe the initial fracture was squeezed out by the formation pressure. The program calls for a 20 ton fracture and we believe this well will produce at around 500,000+ mcf, double what we had originally estimated," says Shane Broesky, President of Lux Energy Corp. "This will double the production figures and create a substantially larger revenue stream."
A copy of the filed information can be found for viewing by electronic means by viewing Lux Energy's filings with the U.S. Securities and Exchange Commission at www.sec.gov.
Lux Energy Corporation
Lux Energy is an oil and gas production, acquisition, and production company focusing on developing oil resources in North America.
SOURCE LUX Energy Corporation
LUX Energy Corporation
CONTACT: please visit www.luxenergycorp.com or contact Shane Broesky at:
Corporate Office, Suite 1950 - 777 8th Ave S.W., Calgary, Alberta, T2P 3R5,
Canada, Investor Relations, TF: (877) 777-4568, info@luxenergycorp.com