Hunter Oil Corp. (TSX.V: HOC) (OTCQX: HOILF) this morning issued an update on operations as the company continues the preparation of its oil field lease holdings of 23,000 acres in Chaves and Roosevelt counties, New Mexico. Per the update, the company’s wholly-owned subsidiary, Ridgeway Arizona Oil Corp., has received approval from the New Mexico Oil Conservation Division for the five drilling permits it filed on June 11, 2018. The new, 1-mile-long horizontal well sites target the San Andres formation in Hunter’s Chaveroo Field. In addition, the company has entered into a long-term lease for 20 surface acres located at its current field office in the Milnesand Field. The additional acreage will be used to expand its supplies and pipe yard and to warehouse drilling preparation materials for Hunter’s upcoming drilling program.
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About Hunter Oil Corp.
Hunter Oil owns and operates two large, historic oil fields in the Permian Basin of eastern New Mexico – the Milnesand and Chaveroo fields. Historical production of these two fields is approximately 40 million barrels. The company plans to unlock the value in these resource-rich fields by leveraging existing infrastructure, lowering operating costs and increasing efficiencies of its operations. For more information, visit the company’s website at www.HunterOil.com.
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