Petro Resources Increases Acreage Position in Colorado and Texas
Petro Resources has been informed by River Oil & Gas, a privately owned Houston based company, that it has acquired an additional 7,000 gross acres subject to its option rights in the Piceance Basin Dakota Sandstone Prospect in northwestern Colorado. This brings the total gross lease position to approximately 11,000 acres. Petro Resources has an 18.75% interest in the prospect acreage. River Oil & Gas, operator of the prospect, is scheduled to commence a multi-well drilling program during the first quarter of 2006.
Petro Resources has also been informed by Bayou City Exploration that they have acquired an additional 964 gross acres in the Live Oak County Prospect in south Texas. This additional acreage brings the total prospect gross acreage under lease to approximately 3,734 acres. Petro Resources has a 12.5% interest in the prospect. The initial well on the prospect is scheduled to be drilled during the first quarter of 2006.
Petro Resources Corporation is an independent exploration
company focused on domestic oil and gas drilling and production.
- Petro Resources Changes Name to Magnum Hunter Resources Corp. (Jul 14)
- Petro Resources Underscores Changes to Management (May 27)
- Petro Resources Happy with First 4 Wells at Surprise Prospect (Mar 02)
Company: Bayou City Exploration more info
- Bayou City Names Interim Chief, Announces Houston Office Closure (Apr 05)
- Bayou City Completes Acquisition in McCampbell (Jan 19)
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