World Oil Resources (ASX: WLR) and its joint venture partner CMX have drilled the vertical #1-1 Krehbiel Trust well at the Welch-Bornholdt Wherry Project in Kansas, USA, to total depth of 3.500 feet.
The target Mississippian formation came in structurally high to adjacent wells and with oil shows on cuttings.
A drill stem test was run to test reservoir pressures and flow potential, and based on the favourable results the decision was made to log and case the well.
The current operation is running well logs, with flow rates to be measured once the well is completed and production tested.
The Welch-Bornholdt and Wherry Oil Fields are a mature, developed and mostly abandoned crude oil accumulation, located around 200 kilometres from the Klick East Oil Field in Oklahoma, just 30 kilometres by road from a refinery.
Around 1,400 vertical wells have been drilled over more than 60 years on the fields, and aggregate production totals 46 million barrels of mainly high quality sweet crude oil.
WLR and CMX have established 50-50 joint venture across 15,000 acres, which includes the well presently being drilled, mainly in the Mississippian age carbonate rock formation that is up to 10 metres thick.
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