Strategic American Oil to Drill Well in Texas

Strategic American Oil Corporation has begun preparations for drilling at Koliba No 3 well in Texas, US, in which the company retained a 12.5% working interest.

The combined leased acreage in Koliba consists of 79 acres covering an anticipated anticlinal structure with offsetting production.

The company has identified three Frio Sand target zones at 5,880in, 5,350in, and 4,930in under the Koliba leases.

The company has decided to drill the No 3 well and get updip to the No 1 well, making better use of investment capital.

Strategic American Oil completed drilling the Koliba No 2 prospect in Victoria County, Texas, earlier this year to 6,880ft.