Here is a small slideshow of recent field operations.
Archive
Signature Oil Hits Production in Kentucky
December 2006 - Signature currently has acquired rights to drill
on nearly 7,000 acres in Knox and Laurel Counties in Kentucky. There
are currently more than 30 productive wells drilled in this field.
Signature Oil Hits Big Tennessee Wildcat Well
LEXINGTON, Ky., Nov. 4, 2005/PRNewswire/ -- Signature Oil Corp.,
announced here today it has drilled in a wildcat well in Clay County,
Tennessee that is flowing at a rate of 288 barrels of oil a day
after being treated.
The new well, the Willis Short #1, is located in the northwestern
portion of Clay County, in upper middle Tennessee, near the Hermitage
Springs community.
"This new field discovery well is several miles from any current
oil
production and the first discovery in Clay County in more than two
decades," said Lynn Wagoner, CEO, Signature Oil Corporation.
The well is producing from an interval of 700 feet to 730 feet,
which is the middle portion of the Nashville Group, an Ordovician
age formation.
"We believe this zone is the equivalent of the prolific Granville
oil zone that has produced large amounts of oil in nearby Clinton
and Cumberland counties, Kentucky, which joins Clay County, Tennessee
to the north," Wagoner said.
"We have long felt that this pay zone didn't stop at the Kentucky-
Tennessee state line and we have finally proven it.
"This discovery will open up not only a new area for exploration
but will also give us a new target zone. We plan to develop this
new oilfield with an aggressive drilling program," Wagoner
noted.
Signature owns several hundred acres of leases surrounding this
new discovery, and plans to maintain an ongoing leasing program
to increase that lease position.
Signature Oil Corporation is a privately owned oil and gas exploration
and production firm, with operations in Kentucky and Tennessee.
CEO Lynn Wagoner is President-Elect of the Tennessee Oil & Gas
Association and serves on the Board of Directors of the Kentucky
Oil & Gas Association.
Signature Oil Hits Another Big Tennessee Oil
Well
LEXINGTON, Ky., June 8, 2005 /PRNewswire/ -- Signature Oil Corp.,
announced here today it has drilled in an oil well in Overton County,
Tennessee, with estimated initial production (IP) of 100-150 barrels
a day (BOD).
The new well, the Jim & Jack Clark #2A, is located in Section
22, Township 1 South, Range 52 East, near Livingston, Tennessee,
is producing oil from the Sunnybrook formation from breaks at 685
feet and 800 feet.
"The well tried to flow as we drilled through the Sunnybrook
formation. After drilling to a total depth of 1,000, we shut the
well in. When we opened the well up the following morning, it flowed
more than 50 barrels of oil in a short period of time," explained
Lynn Wagoner, CEO, Signature Oil Corp.
"We are currently in the process of putting the well on pump
and into production. From all indications, we believe this well
is capable of producing 100-150 barrels of crude oil a day,"
he added.
"Signature Oil Corp. has an extensive lease position in this
very
productive area."
"We plan to conduct a very aggressive drilling program throughout
2005 to develop these leases and to capitalize on excellent crude
oil prices," said Wagoner.
Signature Oil is a privately owned oil and gas exploration and
production firm, with operations in Kentucky and Tennessee. CEO
Lynn Wagoner serves on the Board of Directors of the Tennessee Oil
& Gas Association as well as the Kentucky Oil & Gas Association.
Tennessee Oil Well Producing 300 Barrels
of Oil a Day
LEXINGTON, Ky., March 7, 2005 /PRNewswire/ -- Signature Oil Corp.
announced here today the Richard Smith #3 well in Overton County,
Tennessee, has been stimulated and is currently producing 300 barrels
of oil a day (BOD).
"When we drilled in the Richard Smith #3, located in Section
22, Township 2 South, Range 52 East, near Livingston, Tennessee,
it flowed oil during drilling," said Lynn Wagoner, CEO, Signature
Oil Co.
"At that time we estimated that the well would produce at
the rate of about 60 BOD. We produced the well for more than a month
before we decided we could substantially improve production by acidizing
the Sunnybrook Formation," he added.
Wagoner noted that Universal Well Service performed the acidize
treatment of the well on February 23rd. Immediately following the
acidize stimulation the well began flowing oil at a rate of 13 barrels
of oil an hour.
"From all indications this well will produce at a rate of
300 BOD for some time," Wagoner predicted.
"We have an excellent lease position in this area which has
yielded
several new flowing oil wells. We fully expect to drill additional
commercial wells in this area in the very near future, he noted.
Signature Oil is a privately owned oil and gas exploration and
production firm, with operations in Kentucky and Tennessee. CEO
Lynn Wagoner serves on the Board of Directors of the Tennessee Oil
& Gas Association as well as the Kentucky Oil & Gas Association.
Signature Oil has acquired several thousand acres in Clay County,
which has produced a 288 barrel-a-day well.
In addition to the oil drilling activity in Clay and Overton counties,
Signature is currently involved in drilling gas wells on a 3700
acre lease in Fentress County, Tennessee, on the Cumberland Plateau
near the Burrville field. To date, 26 wells have been drilled on
the property and 24 are commercial gas wells. Two separate markets
currently exist for the gas production.
Signature has also completed a third gas pipeline
that connects the wells drilled on the property to an additional
year-round gas market.
Signature Oil Corporation
3101 Clays Mill Rd., Suite 201 .. Lexington, KY 40503
859-224-0501 .. fax 859-224-0502 ..
info@signatureoil.com
This web site and its contents should not be construed
as investment advice or an offer to buy or sell securities. Investments
in oil and gas drilling projects are highly speculative, involve
a high degree of risk and immediate substantial dilution, and should
only be considered by accredited investors who fully understand
the risks involved and can afford to lose their entire investment.
