The Lozano asset has three wells situated in Frio County’s Kyote oilfield, approximately 6km from Bigfoot. Alamo also received informal options to purchase other working interests in producing oil and gas leases in Texas, ranging from 30% to 100%.
Phillip Mann, chief financial officer of Alamo Energy, said: “We are excited to have this transaction finalized as we believe these assets will give Alamo good long term cash flow along with possibilities of low-risk expansion through horizontal or infield drilling which we believe will boost production.”
Headquartered in London, UK, Alamo Energy is an independent oil and gas, exploration, development and production company.
