Recently Completed Third Well Back Online After Extreme Winter Conditions; Total Works Property Output Now Stands at 104 BOPD; Additional Drilling to Begin in June, 2014
LOS ANGELES, CA -- (Marketwired - May 12, 2014) -
Eos Petro, Inc. (OTCQB: EOPT), today announced that its recently-completed third well on its "Works Property," located in the Illinois Basin, is once again online after a forced shut-in due to severe winter weather conditions. Current total daily output for this property now stands at approximately 104 barrels of per day ("BOPD") up from zero when the property was first acquired by Eos.
"Output from the newly-reactivated third well is steady at approximately 100 BOPD, easily meeting our expectations," said Martin Oring, Eos's Chief Executive Officer. "Next month, we plan to commence drilling and operations of three additional wells, raising anticipated total output for the Works Property to 300 BOPD."
About Eos Petro
Eos Petro, Inc. is an Nevada corporation primarily in the business of acquiring, exploring and developing oil and gas-related assets, both domestically and internationally. The Company's current, active properties are located in the Illinois Basin, in which it has 80% Net Reserve Interest ("NRI") and 100% working interest. For more information, please visit www.eos-petro.com.
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Nikolas Konstant, CEO
Eos Petroleum, Inc.
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