Riverdale Oil & Gas Corp. announced that Ron Herzfeld has joined the company as a senior executive in charge of oil and gas operations.

Riverdale Oil & Gas Corp. announced that it has embarked on a program to develop the massive oil reserves blanketed under and around the Hitzfelder lease, located approximately 40 miles south of San Antonio, Texas. The company will commence a test project using the Hitzfelder #10 well. It plans to re-perforate the San Miguel formation at 2950 feet in depth in the #10 well; and, hydraulically fracture the well using a proprietary system to facilitate the mobility of the oil. Also, the greatest benefit could be the significant increase of ultimate recovery of oil in comparison to conventional practices and results. The company estimates that each 40-acre area could contain as much as 240,000 barrels of oil and 120 million cubic feet of gas. At a conventional recovery factor of 15%, the proved producing reserves would be 36,000 Bbls Oil and 18,000 MCF Gas.

Riverdale Oil & Gas Corp. announced that the Company has recently completed its re-entry of the Grelling well located in Zavala County, Texas. The Company owns a 13% working interest in the recently re-entered Grelling well, approximately 80 miles to the southwest of San Antonio, Texas. The Grelling well was initially drilled in 1978, and became the discovery well for the Louie Field. The well had mechanical difficulties from the start, due to a poor cement completion; and, the well was completed in a low permeable section at the very top of the Elaine Sand formation at 4153 feet. Despite the poor completion technique, the well produced a total of 1440 barrels of oil and 7267 MCF of gas in its one-year productive life. The highly prolific Elaine Sand, of the Cretaceous Age, has been the major target for oil and gas production in Zavala County. The Grelling well discovered an estimated 60 acre fault block, and proved at least 29 feet of oil column as defined by the full section cores and open hole electric logging. From the subsurface geologic data, it is estimated that the Grelling fault block has 576,000 barrels of Stock Tank Oil in Place (STOIP). At an ultimate recovery of 15%, there could be as much as 85,000 barrels of oil produced.