Victory Energy Corporation (VYEY.OB) Updates Shareholders on Drilling Progress
Victory Energy Corporation (VYEY.OB) announced that the company will begin drilling on their first shallow gas well later today. This well is located in the Adams Ranch section of the Adams-Baggett Canyon Sandstone gas field in Crockett County, Texas. The "Canyon Sandstone" gas zone located on this ranch is part of the large prolific Adams-Baggett Canyon Sandstone gas field. The Canyon Sandstone formation is found at a depth of 4,300 feet to 4,900 feet. Initial production for these wells is approximately 250,000 cubic feet of gas per day per well. The success rate for commercially producing gas wells in this…