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Eldorado Exploration to Drill in Texas 2:40 p.m. 05/03/2006 Provided by IRVINE, Calif., May 03, 2006 (BUSINESS WIRE) -- Eldorado (Pink Sheets:EDEX) announced today that it will participate in drilling an 8000' test of the Wolfcamp formation in Glasscock County, Texas. Expected drill date for the well is week three of June 2006. The prospect is based on analysis of Passive Induced Polarization (PIP), radiometrics, passive reflection seismology and subsurface geology. PIP is a geophysical prospecting method that can indicate the presence of significant hydrocarbons from the surface. After reviewing oil production from the adjoining field, the PIP process was conducted to determine the potential for additional development. The PIP analysis indicated a channel over three miles long that may be an unexplored extension of the producing field. Three nearby wells have produced over 1 million barrels each over the past 10 years and are flowing at a combined rate of 45,000 barrels per month. For further information about the company visit www.eldoradoexploration.com or e-mail at eldoex*yahoo.com.
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