TORONTO, Feb. 21, 2012 /CNW/ - Eagleford Energy Inc. (OTCBB "EFRDF")
("Eagleford Energy" or the "Company"), announces that the Company's
wholly owned subsidiary, Dyami Energy LLC has commenced drilling the
Murphy/Dyami #3, on its Murphy Lease comprising 2,637 acres of land in
Zavala County, Texas. This marks the third well drilled on the lease
with the previous two wells encountering the Eagle Ford shale formation
at expected target depth. Data from the previous two wells drilled
indicates that the Murphy Lease sits atop Serpentine plugs with
multi-stacked formations such as the Escondido, Olmos, San Miguel,
Anacacho, Austin Chalk, Eagle Ford shale, Buda and the Georgetown
formations prospective to host hydrocarbons.
A. L. "Buddy" Dawsey, of Dawsey Operating LLC., a Texas based operating
company drilling the Murphy well for the Company, stated, "We have
several stacked targets on the Murphy lease. Total organic content,
permeability and porosity from the previous two wells drilled indicate
that the Eagle Ford formation on the Murphy Lease held by Dyami Energy
has the petro-physical attributes of commercially productive wells in
the oil window of this play."
The Company's Murphy Lease is situated in northeast Zavala County,
Texas, and is part of the Maverick Basin of Southwest Texas, downdip
from the United States Geological Studies north boundary of the
Smackover-Austin-Eagle Ford total petroleum system. This area is often
referred to as the "oil window" of the present Eagle Ford shale play
and data derived from cores of the two prior Murphy wells demonstrates
this lease to be in this oil window.
About Eagleford Energy Inc.
Eagleford Energy Inc. is a growth orientated oil and gas company with a
focus on growing hydrocarbon reserves, cash flow, and net asset value
per share through exploration and production of mineral properties in
South Texas. There are approximately 44.7 million shares issued and
outstanding in the capital of the Company.
Certain information regarding the Company in this news release may
constitute forward-looking statements under applicable securities laws.
The forward-looking information includes, without limitation,
projections or estimates made by us and our management in connection
with our business operations. Various assumptions were used in drawing
the conclusions or making the forecasts and projections contained in
the forward-looking information contained in this press release, which
assumptions are based on management analysis of historical trends,
experience, current conditions and expected future developments
pertaining to the Company and the industry in which it operates as well
as certain assumptions as specifically outlined in the release above.
Forward-looking information is based on current expectations, estimates
and projections that involve a number of risks, which could cause
actual results to vary and in some instances to differ materially from
those anticipated by the Company and described in the forward-looking
information contained in this press release. Undue reliance should not
be placed on forward-looking information, which is not a guarantee of
performance and is subject to a number of risks or uncertainties.
Readers are cautioned that the foregoing list of risk factors is not
exhaustive. Forward-looking information is based on the estimates and
opinions of the Company's management at the time the information is
released and the Company disclaims any intent or obligation to update
publicly any such forward-looking information, whether as a result of
new information, future events or otherwise, other than as expressly
required by applicable securities laws.
SOURCE Eagleford Energy Inc.
For further information:
Eagleford Energy Inc.
Facsimile: 416 364-8244