Brenham Oil & Gas Corp., a majority owned subsidiary of American International Industries, Inc., (AMIN) (American), announced it acquired a 10 percent working interest in the Pierce Junction Oil & Gas Field in Houston, Texas.
"The Pierce Junction field is one of the oldest and most prolific fields in the Houston area. This field has been producing oil & gas since 1921 and has produced over 104 million barrels of oil since that time mostly from Miocene, Frio, and Vicksburg reservoirs," Bryant Mook, Brenham's recently elected president, stated.
Brenham's asset acquisition includes eight producing wells with an additional seven wells scheduled for mechanical work-over that should add more oil reserves to Brenham. Additional offsetting acreage can be developed by Brenham on a well by well basis to produce additional oil reserves from several producing horizons.
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