Circle Star Energy Corp. (OTCBB: CRCL) announces that drilling has commenced in Trego County, Kansas ahead of schedule. CRCL owns a 25% working interest and a 20% net revenue interest until payout at which time CRCL will convert to a 43.75% working interest and a 35% net revenue interest after payout.
The initial well in Trego County is planned to drill to 4,200 feet and test the Arbuckle, Kansas-Lansing and other formations that are productive in the area. According to the Kansas Geological Survey, oil and/or natural gas is produced in 93 of 105 Kansas counties with the Arbuckle Formation accounting for 36% of total oil production in Kansas. Located in Northwest Kansas, Trego County has been the site of several major oil discoveries, including its first oil pool discovery in May 1929, and cumulatively produced 66,787,369 bbls to date.
About Circle Star Energy Corp.
Circle Star Energy Corp. is a performance-driven exploration & production company that is developing exposure to high-impact, large scale oil & gas plays via operated and non-operated positions; while establishing and building a base of low-risk, solid return and operated working interests.CRCL is continuing its efforts in expanding its exposure in Northwest Kansas, which is also being pursued by other energy industry participants such as Chesapeake Energy Corp. (NYSE: CHK), Encana Corp. (NYSE: ECA), SandRidge Energy Inc. (NYSE: SD) and Apache Corp. (NYSE: APA). For more information on CRCL’s unconventional resources initiative, please visit http://www.circlestarenergy.com/investors/stock-information. For further information, news and updates, visit Circle Star Energy:
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