Virtus Oil and Gas Announces Spud of Lone Pine 34-11-5 Well

HOUSTON, Sept. 2, 2015 /PRNewswire/ -- Virtus Oil and Gas Corporation (OTCBB: VOIL) ("Virtus" or "the Company") spud the conductor hole at the Lone Pine 34-11-5 well in Southern Utah on August 25, 2015.  

Energy Drilling's Rig 8 has been assembled onsite and initiated formal operations on August 31, 2015. As of 7:00 a.m. on September 1, 2015, the rig spud the surface hole and reached a depth of 600 feet by 6:30 p.m. the same day. Over the next five to seven days, Rig 8 will drill continue to drill towards a targeted total vertical depth of 7,000 feet.

The well's surface casing was run and cemented in place by Baker Hughes. After the cement has set, aided by an accelerator to speed up to the process, Virtus Oil and Gas will conduct a Formation Integrity Test (FIT). This is a test of the strength and integrity of the casing cement.

Once Rig 8 reaches total depth, an additional 5 to 7 days will be required to complete the initial test well. The time it takes to complete the well is dependent on the results of potential oil shows from the Jurassic-age zones.

A new page has been created on the Virtus Oil and Gas website to keep interested parties up to date on important operational milestones. Additional images and a copy of the company's drilling permit can be viewed below.

• Drilling Diary
• Images from Day 1 to Present day, including Rig 8 in place.
• Virtus Lone Pine State Permit

About Virtus Oil and Gas Corporation

Virtus Oil and Gas Corp. (VOIL) is a Houston-based oil and gas exploration and production company currently focused on the Parowan Project, a 55,477+/- Acre prospect targeting the Central Utah Thrust Belt. The prospect is situated near recent Utah discoveries, including Wolverine Gas and Oil's Covenant Oil Field, which is consistent with Virtus' strategy to acquire and develop oil and gas resources in proven, onshore basins in the United States.

Forward-looking Statements

This news release may contain "forward-looking" statements. These forward-looking statements are only predictions and are subject to certain risks, uncertainties and assumptions that could cause actual results to differ from those in the forward looking-statements. Potential risks and uncertainties include such factors as uncertainty of consumer demand for the Company's products, as well as additional risks and uncertainties that are identified and described in the Company's SEC reports. The company will need to raise additional financing in order to advance its exploration and drilling program.  Actual results may differ materially from the forward-looking statements in this press release. Statements made herein are as of the date of this press release and should not be relied upon as of any subsequent date. The Company does not undertake, and it specifically disclaims, any obligation to update any forward-looking statements to reflect occurrences, developments, events or circumstances after the date of such statement.

Contact:
Virtus Oil and Gas Corporation
1517 San Jacinto Street
Houston, TX 77002
IR Phone: (855) 733-VOIL
[email protected]

SOURCE Virtus Oil and Gas Corporation

Related Links

http://www.virtusoilandgas.com