MegaWest Energy Corp. has started preliminary drilling into tar-sands formations in Edmonson, Warren and Butler counties, where the Kentucky Geological Survey estimates that shallow, heavy oil resources could total 3.4 billion barrels.

George T. Stapleton, CEO of MegaWest, said:

If I had to guess, of the 3.4 billion, once all is said and done, if you can produce a billion of it, you’ve done extremely well.

For full story, click here