Junex inc.

Recent activities

14 December 2016

Permian Basin, Texas Schleicher County Project

Junex announced an oil discovery in a well recently drilled with partners on its properties in the Permian Basin in Schleicher County, West Texas. During clean-up and swabbing operations following drilling, the well flowed at rates up to approximately 50 barrels of oil per hour over a 3 to 4 hour period out of the Strawn Lime interval. A pump was then installed and the well was tested at an average rate of approximately 32 barrels of oil per day over an 18 day period. Testing continues in the well.

Having been active in this area since 2012, Junex owns an interest of 25% in this well and in the surrounding/neighboring acreage totalling approximately 2,219 gross acres.

This well, known as the Thornburg #11 well, was drilled to evaluate the Pennsylvanian-aged McKavitt (Canyon) Sandstone oil reservoirs and the deeper Strawn Lime in the Camar Field in Schleicher County. The interval currently being tested is the Strawn Lime interval. The McKavitt Sandstone intervals have not yet been tested in this well.

Source: http://texas