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News: Strata-X Energy to bring Illinois oil well into production

  1. Strata-X Energy (ASX:SXA, CVE:SXE) is proceeding to install permanent production facilities at its Blue Spruce-1 at the Illinois Oil Project.

    The company has recovered oil with gas at sufficient rates after swab testing the lower two of the four potential oil zones identified on logs and drill samples.

    Testing operations on the upper two oil zones including the primary zone of interest, the Aux Vases formation should occur over the next two weeks.

    Blue Spruce-1 had intersected four potential economic zones with 33 feet of calculated net pay.

    There are eight direct offset drilling targets available on its leasehold.

    Strata-X had $2.16 million in cash as at 31st December 2014.

    Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX “Small and Mid-cap” stocks with distribution in Australia, UK, North America and Hong Kong / China.

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