|FX Drilling Rig #5 at work drilling the New Miami 21-20H on Saturday. Sun Times photo by Darryl L. Flowers|
By Darryl L. Flowers
During the visit, gas was observed being “flared” at the site.
“We can confirm that the New Miami #42-20H is on pump with some more testing going on. We have an injection well also happening on this one,” said Patrick Smyth, VP of Finance when asked about the well status Monday morning via email.
“There is some product now being delivered from #42-20H to the refinery, and as we move through the gas and liquid and by the end of next week we should be clearer on the numbers that we will be pumping daily,” added Smyth.
He also went on to say that the company is working on the permits for well #3 as well as a rig to do the drilling. Plans call for a 17 well program at the New Miami property.
Asked about UnionTown’s listing on a European stock exchange, Smyth commented, “The new listing in Europe is still being finalized and we are waiting on some more information from a regulatory perspective before making any announcements about the structure of the market or shares. We are working on additional financings to address the resumption of drilling on our Teton River project and exploration on our other properties. In order to carry out these kinds of financings, we must make sure that all of the details of the corporate reorganization are perfect, hence the additional time required.”