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Target Energy Announces Drilling Commences at Highway 71 Prospect
Wednesday October 28, 2009, 12:37 pm

Original Announcement: Drilling Commences at Highway 71 Prospect

Target Energy announced that drilling has commenced at its Highway 71 prospect. The operator of the well has advised that drilling at the Hollimon Oil Company Merta #1 well commenced at 1900 hrs on 26 October 2009 (US CST). At 0600 hrs on 27 October (US CST), the well was drilling ahead at a depth of 158.8m. Target is earning a 25% working interest in the Highway 71 prospect, situated in Wharton County Texas, approximately 100 km west-southwest of Houston. The prospect has the potential to recover up to 67.5bn cubic feet of gas and 1.1m barrels of condensate/light oil from its primary and secondary targets. Drilling is expected to take six weeks to drill to the programmed Total Depth of 4,115m (13,500ft).

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