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Credo Petroleum Corp. (CRED) Reports Successful Well in North Dakota

|Includes: Forestar Group Inc. (FOR)

Credo Petroleum Corp. reported the success of a horizontal well drilled in North Dakota. The company said that the well had the highest initial production rate of any well in its history.

The Weisz 11-14#1-H well drilled over the last few months produced at an initial rate of production in excess of 2,000 barrels of oil equivalent (NYSE:BOE) during an initial 24 hour production period. The well targeted the Middle Bakken formation and was completed with a thirty-seven stage hydraulic fracturing operation.

Credo Petroleum Corporation said that the Weisz 11-14#1-H well was the company’s second successful well targeting the Middle Bakken formation in North Dakota. The company’s first well produced 40,000 BOE during the first ninety days of production.

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