(MENAFN- ProactiveInvestors)
(ASX:TTE OTC:TTENY) has confirmed the presence of twelve separate zones with oil shows at the KT Reese-15 well within its Allen Dome project in Texas.
Tests further confirmed seven oil productive pay zones in the well ranging in depth from 3000 feet down to 4100 feet.
Initial evaluation of the prospective oil pay zones indicates that over half of these are likely to be untested or previously unproduced sands correlated to offset wells.
JT Reese-15 is the second well in its 2015 multi-well developmental drilling program.
Titan has a 50% interest in the well.
The first well is currently flowing oil at a rate of more than 100 barrels per day on a 15 minute per hour pumping cycle.
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