Legend Oil and Gas Ltd. (otcqb:LOGL) ("Legend", the "Company") wishes to announce that it has commenced drilling the next slate of wells in its previously announced multi-well program on its Piqua, Kansas oil leases. Specifically, the Company has permitted 5 new locations on its Patrick Collins lease, a 320 acre lightly drilled parcel, which was initially developed in August of 2013 with four successful new oil wells.
Marshall Diamond-Goldberg, President of Legend Oil and Gas, Ltd., stated, "The success of our August drilling program on the Pat Collins lease, coupled with the increase of our fluid handling capacity at our recently expanded production battery, made the additional development locations an easy decision. The Squirrel reservoir is well developed on the lease and the four wells have averaged approximately 2 BOPD each over the first four months of production; a level higher than expected. As a result, the additional locations should help to increase the Piqua property output while we continue to enhance the water flooding program in order to further enhance the oil recovery from our other leases. In the interim, we are evaluating the drilling opportunities on our recently acquired McCune Kansas property; a series of leases that are currently producing an average of 8 BOPD or about 1 BOPD higher than we had anticipated during our due diligence on this property."
It is expected that each well will be drilled in one to two days with casing and completion to follow as services become available, while the McCune assessment and enhancement planning continues to progress.
About Legend Oil and Gas Ltd. Legend Oil and Gas Ltd. is a managed risk, oil and gas exploration/exploitation, development and production company with activities currently focused on leases in Canada, southeastern Kansas and northern North Dakota.