Engineering and log information indicates possible dual reservoir opportunities in addition to the current production reservoirs.
The locations under negotiation are the Plummer #1 and Fuller #2, both producing from the Viola Limestone and Fuller #2 producing from the Deese Reservoir.
The company said that this is high gravity crude with water disposal facilities, each well holds a 40 acre tract and the large production leases will enable possible dual completions.
With crude oil prices currently in excess of seventy five dollars and expected to rise, the company states that leases with this potential are extremely important for growth, company cash flow and expansion opportunities.
The company added that it will continue to search out further oil and gas production and exploration acquisitions in Oklahoma, Texas and other southern states.
