Eagleford Energy Spuds Eagle Ford Shale Well on its Murphy Lease in Zavala County, Texas

TORONTO, Jan. 27 /CNW/ - Eagleford Energy Inc. (OTCBB "EFRDF") ("Eagleford Energy" or the "Company"), announces that it spud its initial well, the Murphy/Dyami 1-H, on its 100% working interest Murphy Lease comprising 2,637 acres of land in Zavala County, Texas. The rig is currently drilling vertically and the Company intends to drill through the Eagle Ford shale to the Buda formation and log the Serpentine, Austin Chalk, Eagle Ford shale, and the Buda formations.  The well is subject to a 10% carried interest on the drilling costs incurred from the surface to the base of the Austin Chalk formation, and a 3% carried interest on the drilling costs incurred from the top of the Eagle Ford shale formation and below.

Eric Johnson, VP Operations at Dyami Energy LLC, a Texas based operating subsidiary of Eagleford Energy, stated, "We have several stacked targets on the Murphy lease.  We intend to log and core the key formations in the vertical wellbore, and to position the well to be drilled horizontally as data dictates."

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.

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 31 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.
Investor Relations
Telephone: 877-723-5542
Facsimile: 416 364-8244

Profil de l'entreprise

Eagleford Energy Inc.

Renseignements sur cet organisme


FORFAITS PERSONNALISÉS

Jetez un coup d’œil sur nos forfaits personnalisés ou créez le vôtre selon vos besoins de communication particuliers.

Commencez dès aujourd'hui .

ADHÉSION À CNW

Remplissez un formulaire d'adhésion à CNW ou communiquez avec nous au 1-877-269-7890.

RENSEIGNEZ-VOUS SUR LES SERVICES DE CNW

Demandez plus d'informations sur les produits et services de CNW ou communiquez avec nous au 1‑877-269-7890.