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FTTN looks to drill South Lake Charles prospect before year’s end

FTTN announced that the company anticipates drilling to begin at its oil and gas well prospect in South Lake Charles Field, before the end of the year.“We expect to have those special arrangements made soon so that we can begin the process of rigging up this new well.”

FTTN chief executive officer Robert Federowicz met with executives from Intrepid Drilling, the company set to operate the well, last week to inspect the property and go over final details for the project.“With funding almost in place, we’re in the process of getting the appropriate FAA permits for special rig lighting, because the site is in line with final approach to a local airfield,” Federowicz said. “We expect to have those special arrangements made soon so that we can begin the process of rigging up this new well.”

The South Lake Charles prospect is one of two working interests that FTTN owns in Louisiana, one of the nation’s top energy producing states. The second well is located in Lake Boeuf Field in the Southeastern region.

The promising reserve estimates for both assets have FTTN predicting a highly successful 2013 for the company and its shareholders.

11/19/2012

 

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