Cunningham Energy News

Cunningham Energy News -

BE Resources Signs Letter of Intent to Develop Historically Known Producing Oil Field With Cunningham Energy and Drill Up to 18 Shallow Horizontal Production Wells in $39 Million (USD) Deal

TORONTO, ONTARIO–(Marketwired – Jul 31, 2014) – BE Resources Inc. (TSX VENTURE:BER) (“BE” or the “Company”) is pleased to announce that it has entered into a Letter of Intent (“LOI”) with Cunningham Energy, LLC (“Cunningham”), of Charleston, West Virginia to acquire approximately 425 acres of oil leases in the Stringtown, Rock Creek, and Green Creek oil fields (collectively known as the “Oil Leases”) within the Smithfield District in West Virginia, and not less than approximately 400 additional acres to be agreed upon, contiguous to the Oil Leases. BE will further have the first right of refusal to acquire additional oil leases to be agreed, being a minimum of 1,000 acres in area and allowing for a potential of up to an additional 15 horizontal oil wells. Continue reading

Cunningham Energy announces new ‘Dragon’s Breath’ horizontal well program

Cunningham Energy LLC has announced plans for three additional new shallow horizontal oil wells to be drilled in Clay County, West Virginia. The newly planned horizontal program will be drilled from the ‘Dragon’s Breath’ pad, consisting of three wells surveyed with a specified measured depth (‘MD’) ranging from 4750′ to 5200′ plus feet and vertical depths (‘TVD’) of 2150′ plus feet. Continue reading