posted
This may very well be the hottest energy stock to get into. Great time to buy, just picked up a ton of it last week.
Posts: 4 | Registered: Jun 2005
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''Archer-Wildlands #1'' Well Drilling Ahead at North Franklin
TUCSON, Ariz.--(BUSINESS WIRE)--June 27, 2005--Fidelis Energy, Inc. (OTCBB:FDEI - News), today announces that the "Archer-Wildlands #1" well has spudded and is drilling ahead at the North Franklin Project, Sacramento Basin of California. The well was spudded on June 25th is a close offset to the "Archer-Whitney #1" well that has been in production since March 2005. This is the second gas well to be drilled in the North Franklin gas reservoir under the 2005 development plan. The Company is optimistic that the Winters sand gas pay zone will be thicker at this location than the "Archer-Whitney #1" well, based on 2D seismic and geological mapping of the formation. Drilling to the 8,000 foot depth should take 8-10 days following which the well will be completed and tied-in to the pipeline. Fidelis receives PG&E-Citygate gas prices for sales and was last quoted June 22 at $6.72 per mcf.
-------------------- Greedy Because I'm Broke!! Posts: 2093 | From: Leaving Your House | Registered: Apr 2004
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posted
Has gone from .32 to .42 in one week. Is finishing up the drilling on its second well and so soon will be getting more revenues. And has yet to drill the deep well to see if there is an even bigger field under this one. Even at .42 it is dirt cheap.
Posts: 580 | Registered: Oct 2003
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posted
Does have a habit of going down for awhile after good news or a nice climb, but with all the positive things going for it, in a year or so, especially with the climbing price of gas and oil, it should be in the multidollar range.
Posts: 580 | Registered: Oct 2003
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