Existing Oil & Gas Leases

In South and East Texas the Company has oil & gas leases in its inventory and where it is the operator of record with the RailRoad Commission, the governing body for oil and gas production in the state of Texas. There are additional leases available to be acquired, each of which contain wells that have produced oil commercially and in which commercial production can be re-established.

Screen Shot 2021-01-22 at 1.29.25 PM

Byers Heirs #2 Deu Pree Field, Wood County

A well originally completed in the Woodbine formation from perforations of 5736’ – 80’ making 74 bbls per day of 16 deg gravity “heavy” oil and accumulating 78,000 bbls of oil.  When abandoned in 1997 the well was capable of making 60 bbls of oil per day but at the time there was no market for heavy oil and the price per bbl was discounted considerably due to the low gravity.  Today there is a large demand for this type of crude oil and it can receive a significant bonus over the posted price of West Texas Intermediate.  The produced oil will be blended with condensate to raise the gravity of the product and lower the gravity of the condensate.  This will alleviate any pricing discounts applied due to lower gravity of the oil and the higher gravity of the condensate.

The well has been successfully re-entered and is waiting on final completion, which will entail the drilling of 4 or 5 short lateral legs (horizontal) information to enhance the daily production rates.

There is another productive zone above the Woodbine that has produced in the field, the Sub-Clarksville, that can be completed for commercial production. At some point we will consider completing this zone and commingling the production with the Woodbine oil.

Screen Shot 2021-01-22 at 1.27.58 PM

Byers #1, Deu Pree Field, Wood County

A well that is an offset to the #2 well and was completed in the Woodbine formation. It had an initial rate of 122 bbls of oil per day and accumulated 120,000 barrels of oil. It was abandoned in 1997 when a leak in the casing occurred and attempts to patch the leak failed. Today technology has improved dramatically and repairing a casing leak such as this one is much more successful. A re-entry of this well will be proposed to re-establish commercial production in the Woodbine and/or from a completion in the Sub-Clarksville. If the repairing of the casing leak is not successful a liner can be cemented inside the existing casing to repair the leak.

Screen Shot 2021-01-22 at 1.36.09 PM

Cameron #1, Deu Pree Field, Wood County

A well that was drilled south of the two Byers wells. The well was completed in the SubClarksville formation as it was not drilled to a depth sufficient to evaluate the Woodbine formation.  The initial rate was 91 bbls of oil per day and accumulated 30,000 bbls of oil.  It was abandoned when the price of oil fell below $10 per bbl.


Consideration should be given to deepening this well to the Woodbine for evaluation and possible completion.

Screen Shot 2021-01-22 at 1.37.03 PM

Continental State Bank #14, East Texas Field, Gregg County

Located in the East Texas Field this is a shut-in, fully equipped well capable of commercial production of oil from the Woodbine formation. Wells surrounding this well are currently producing commercial oil.  The pump jack should be replaced with a submersible pump to allow for a greater daily fluid rate.  In this field the amount of oil produced daily depends mainly on how much fluid is produced.  Costs for the disposal of produced water is minimal as a connection to the East Texas Saltwater Disposal System is on the lease.

The Austin Chalk formation sits on top of the Woodbine and the well is located in an advantageous position geologically to afford the opportunity to produce commercial oil from that zone, which can be commingled with the Woodbine.

Thrash “A” #1 & #2, East Texas Field, Rusk County

2 wells equipped for production with the exception of a pump jack missing from the #2 well. A submersible pump should be placed in the well to increase the daily fluid rate.  If successful in increasing the oil produced the pump jack on the #1 well should be replaced with a submersible pump.


The Austin Chalk is present in the wells but the quality of the rock is such that a completion in that zone is not recommended at this time.

Julia M. Finney Lease, East Texas Field, Rusk County

There are 8 shut-in wells on this lease completed in the Woodbine formation, of which 6 wells are fully equipped for production. The wells should be reworked and placed back into production.  There are wells on all sides of the lease that are currently producing.  Also, the lease is in a position whereby the Austin Chalk should be commercially productive.  We are planning to eventually re-complete 3 or 4 of the wells in the Austin Chalk and 2 to 3 wells will be reconditioned to produce from the Woodbine using submersible pumps.


The Austin Chalk is present in the wells but the quality of the rock is such that a completion in that zone is not recommended at this time.

Dora Hastings #1-R & #2, Glen Hummel, SW Field, Wilson County

2 wells located in south Texas that are completed in the Poth B Sand and equipped for production. In this area the Poth A, B, C and D sands are productive in various wells.  The Poth A sand produces from a waterflood operation on adjacent leases to the east.  The Poth C sand produces immediately to the north.  The A, B and C sands are present in the offset wells to the east and in 2 wells that were completed in the Austin Chalk immediately to the west, and each are expected to be productive in our 2 wells. If warranted additional development may occur on the lease with new drilling or a re-entry on one of the Austin Chalk wells.

F. M. Ezzell #2, Palmer (Poth B) Field, Wilson County

A well fully equipped for production with the exception of not having stock tanks and oil/water separation. There are other Poth sands that are productive in wells in the immediate area of this well and are expected to be present in this well.  A cased hole log should be run in the well to evaluate other productive zones for re-completion.  Also, the well should be reworked to re-establish commercial production from the B sand.

Moody & West Lease, Loma Novia & Government Wells S. Fields, Duval County

This is a prospect to drill a well to 2,800’ and complete in 1 of the 5 productive sands that are present in the Loma Novia and the Government Wells formations. The lease has produced previously but each productive well was not produced from each productive sand. The wells were abandoned due to the condition of the well equipment but were still productive.  Also, there are 7 to 10 drilling sites for future development.

Future Development Projects

The Company also has a considerable number of additional projects that can and will be acquired that offer similar opportunities for commercial production at minimal costs. These projects are primarily located in South and East Texas but the Company will not limit itself to just these two areas. The Company will continue to originate potential projects internally, but management also has a very large network of contacts in the oil industry and will reach out to these contacts for reference to other projects. For the foreseeable future the Company expects to concentrate on projects within the State of Texas.