“This well is the first of a scheduled program of 20 to 25 wells in the next 12 months and follows the successful program in 2004 where the eight wells drilled were all discoveries,” Tomahawk said in a statement.

“In addition to these eight wells drilled the company purchased a 50% working interest in another two wells. Of the 10 wells, five are producing at present and the other five are at various stages of being brought into production.

“Revenue from production from the first five wells alone considerably exceeds operating costs.”