Hinto Energy, Inc. announced the company has drilled a new well in Ohio, located on the Appalachian geosyncline which includes both the Berea Sands and the Ohio shale stratigraphic levels. The company will retain a 75% non-operated interest in this initial well, after payout, and 75% of any future wells developed on this property and is considering the use of 3D seismic to target higher value prospects. The company has established a 36 square mile AMI (area of mutual interest) with the operator, which could provide for additional drilling opportunities.
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- Hinto Energy, Inc. Announces Drilling of New Oil Well in Ohio