Australian oil and gas company Titan Energy Ltd, announce that the rig is expected on location Friday US time to spud the Poole #C-1 "cap rock" well at its Allen Dome oil field in Texas. The Poole #C-1 is expected to reach a Total Depth (TD) of 850', within 72 hours from the spud date , when the well will be logged.

The Poole #C-1 well, located on the southern portion of the Allen Dome salt dome where Titan holds an approximately 85% WI, will be drilled at a turnkey cost of US$95,000.

If successful the well has the potential to add a further 20+ barrels of oil per day (bopd) to Titan Energy's Allen Dome production.

Tags: Titan Energy Ltd