As a result, the company says it has now built a significant holding in two new plays in the Cherokee Platform, with good access to its existing operating hub in Osage County and to the Tulsa office.

The larger of these two plays is being moved to the development phase with significant drilling by adjacent leaseholders under way and planned.

Red Fork said it understands that more than 35 drilling permits have been filed in this play, including at least three horizontal wells.

In addition to this activity, the field contains more than 10 successful vertical producing wells and two recently completed horizontal wells.

Red Fork said its Oklahoma-based geological team was currently working to define the outer limits of the play.

The leasing campaign continues with the goal of securing a large strategic land position on the current terms and in prospective areas that have demonstrated hydrocarbon production potential.

The focus will be on lower risk coal seam methane and shale plays that are located within the Cherokee Platform and Arkoma Basin.