TYLER, Texas, Jul 11, 2013 (GLOBE NEWSWIRE via COMTEX) -- Pegasi Energy Resources Corp. (OTCBB:PGSI) ("Pegasi" or the "Company"), an East Texas based oil and gas exploration and production company headquartered in Tyler, Texas, today reported the production performance of its Haggard A well in Marion County, Texas.
The Company fracture stimulated the well on April 2, 2013 and flowed the well back. Following flow back of the fracture stimulation fluids, the well achieved an AOF (absolute open flow) daily production rate of 1,341 MCF gas and 17 BBLS condensate. The Haggard A is the third development well in the Rodessa (Norbord - Travis Peak) field discovered by Pegasi in 2010.
Mr. Michael Neufeld, President and CEO of Pegasi said; "We are pleased with the production rate of the Haggard A well. The performance of the Haggard A confirms the opportunity to drill further wells to develop the Rodessa (Norbord- Travis Peak) field in Marion County."
About Pegasi Energy Resources Corporation
Pegasi Energy Resources Corporation is an organic growth-oriented independent oil and gas exploration and production company, headquartered in Tyler, Texas. Pegasi is focused on a repeatable, low geological risk, high potential project in the active East Texas oil and gas region. The Company's strategy is focused on establishing a portfolio of drilling opportunities to exploit undeveloped reserves to grow production, as well as undertaking exploration to grow future reserves. Additional information concerning Pegasi Energy is available at www.pegasienergy.com.
