Updates

Next two wells are producers

Dynex announced today that on 22 November 2013 the 2nd well Holloday 27#1 started production and reservoir analysis after 3 months production indicates 20% higher reserves than in it’s first well McCarty 23.The well was spudded on 9 Oct, 2013 and drilled vertically to a depth of 10,680ft into the Mississippian formation and stimulated with a 2-stage frac. 

Further the company announced the completion and production of it’s 3rd well, Jeter 27#1 on 27 March 2014. The well was spudded on 10 January 2014 and drilled into the same formation. 

At the same time the company’s 4th well, Jeter 27#2, has reached a depth of 9800 feet and is expected to be completed within April 2014.

McCarty 23: First well in new DeRoen project is a producer

Dynex’s first well in the DeRoen Field, McCarty 23 No.2, was put into production in September 2013 and current output levels are already in line with expectations. The well produces oil and gas from the Mississippian. The DeRoen Field in Dawson County, Texas, was discovered in 1981 and since then it has historically produced 2.4 million barrels of oil

The participation was already structured under the new managmenent & consultancy agreement with RHS Oil & Gas LLC.