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Article: United Petroleum announces commencement of drilling operations in Martin County, Ky.

Article from:
Business Wire
Article date:
September 11, 1996
Copyright

KNOXVILLE, Tenn.--(BUSINESS WIRE)--Sept. 11, 1996--United Petroleum Corp. (NASDAQ:UPET) announced today that financing is in place and that drilling began on Tuesday, Sept. 10, 1996, the first of several developmental wells the company intends to drill in Martin County, Ky.

The well is permitted to a total depth of 4,000 feet and is expected to cost approximately $250,000 to drill and complete. Michael F. Thomas, company CEO and president, stated that, "There are at least three possible depths or `Pay Zones' in which natural gas may be encountered in this region of Kentucky."

The company further ...

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