Well Drilling Update

Drilling was completed Thursday, June 1st, and to date we are waiting to hear back from the lab on the quality of water. The pressure appeared to be very good. Lab results will be posted here as soon as we receive them.

Here's a report from the driller about Thursday's results:

"We continued down to a total depth of 1060’ into the Hosston formation. We began losing returns on our drill cuttings during this, so we cannot give a definitive estimate on production, but we believe it to be 50+ gpm. The TDS readings at this depth were promising as well. Even with the Hosston water mixing with the Cow Creek water above it, the TDS levels fluctuated between 1,100 and 1,400. This is a clear indication that the water quality is better in the Hosston. We obtained a sample of this for lab testing as well. Again, the waters will be mixed, so it will not be a true reflection of the Hosston’s quality. But it should show us some changes in the chemistry and allow us infer what the isolated water quality may be."

Once we get the lab report back on the water quality and actual pressure we will know how to proceed from there.