Tuesday, November 4, 2008

USEG Update on Drilling Program with PetroQuest


U.S. Energy Corp. (Nasdaq: USEG) released an update on its drilling program with PetroQuest Energy (NYSE: PQ) today. So far they are 1-for-2: the first drilling prospect went into production yesterday, and the second prospect was determined to be non-productive. These were the first two of a scheduled three well drilling program with PetroQuest Energy.

The image above is from U.S. Energy Corp.'s website.

4 comments:

B. McClain said...

1 for 1? With the second property deemed to be "non-productive".

Doesn't that mean 1 for 2?

DaveinHackensack said...

My mistake, you're right. I'll fix that.

DaveinHackensack said...

Thanks for the correction.

DaveinHackensack said...

USEG just announced that it has put its plans to joint list on the TSX on hold given the current market environment.