The Roxanne field, which covers about 600 acres in Victoria County, has multiple drilling locations that will target the Yegua and Frio formations at various depths.
According to the company, the field has over $8m in potential gross reserves based upon the current oil and gas prices and assuming all wells are drilled and successful.
Bering Exploration will retain a 50% working interest in this prospect.
US-based Bering Exploration focuses on identifying, developing and acquiring potential natural gas and oil wells in the Gulf Coast onshore region.
