Oil & Gas Production
The proposed purchase of the oil and gas properties in Wyoming, Colorado, Kansas, and Montana was completed in October 2011. The purchase had been agreed to and signed on April 12th, 2011
Purchase Events to Date
On October 3rd, 2011, the company announced that the purchase of the oil and gas properties in Wyoming, Colorado, Kansas, and Montana had been completed
The $11,000,000 purchase includes 91 operating wells that are currently producing, along with approximately 37,000 gross acres that includes approximately 21,000 net acres under lease, and approximately 250 PUDs.
In addition to the current production and cash flow, the properties offer a large opportunity for future development, and we are in the process of evaluating its potential. We plan to have a short-term (one year) drilling plan out by the end of 2011.