Citadel Exploration, Inc Announces Commencement of Drilling at Rancho Grande; Announces New Acreage Acquisition
In addition to the progress on its existing projects, the company is also pleased to announce expansion of its portfolio with acquisition of approximately 3,000 acres from AERA Energy, LLC. This acreage has been mapped using a combination of both 2D and 3D seismic with extensive well control data, and is in close proximity to the Yowlumne oil field which has produced more than 100 million barrels of oil.