Quad Energy Corp. Announces Details of Cave Pool Oil Properties Purchased from Blugrass Energy Inc.
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ORLANDO, Feb. 8, 2011 - Quad Energy Corp. (Pink Sheets: CDID) is pleased to offer more details on its recent acquisition from Blugrass Energy of a 100% ownership in the Cave Pool Properties in Eddy County New Mexico. The property has 2800 acres more or less of mineral leases with 30 existing wells. Most of the wells are equipped with Pump Jacks and have flow lines running to existing treating facilities. The property has complete electrical services to all wells. All of the wells are in the Grayburg/Jackson formation. This formation has been a prolific producer of hydrocarbons for many years. The wells have been shut in since the middle of 2010. Our optimization team has been studying the existing wells and believes we just need to restart some wells and rework others to achieve an expected production rate of 10 to 25 barrels of oil a day for the field. Our future plans are to pursue an aggressive drilling program using twenty acre spacing per well, which management believes will offer enough acreage to develop upwards of one hundred vertical wells or thirty five horizontal wells.
About Quad Energy Corp.
Quad Energy Corp. is independent junior oil and as exploration, development and production company headquartered in Orlando, FL. The company is duly incorporated in the State of Nevada. The company's common shares are listed for trading on the electronic over the counter pink sheets (OTC-PINK) market in the United states and trades under the symbol "CDIC"
Contact us:
Quad Energy Corp.
3208 C Eat Colonial D
Orlando FL
32802
1 407 506-4397
info@quadenergycorp.com
For information please visit our website:
www.quadenergycorp.com
SOURCE Quad Energy Corp.
