Fortune Petroleum to Drill 2nd Trial Well

Fortune Petroleum said another exploratory well will be drilled at a 500-acre site it co-leases in Montebello, just east of Los Angeles. An initial well drilled there last year came up empty.

Fortune, a small energy concern based in Agoura Hills, said the well will be drilled by Trio Petroleum of Bakersfield on behalf of Fortune, Benton Petroleum, Oregon Natural Gas and Transpacific Exploration.

Fortune contends that if the drilling is successful, 10 million to 20 million barrels of oil and gas equivalent could be discovered.