The Clovelly South prospect is located in Lafourche Parish, Louisiana adjacent to the Clovelly Field, which has produced approximately 35 million barrels of oil and 200 billion cubic feet of gas since its discovery in the 1950s. The prospective size is estimated at over 3.5 million barrels or the equivalent in gas. In the event of a discovery, facilities for the production of the well are available. A discovery could lead to the drilling of several development wells on the 1260 acre property.
Max Maxwell, President & CEO, said, "We are totally committed to delivering the highest value to our shareholders. Opportunity is upon us to benefit from the high oil and gas prices to deliver the best possible returns to our investors."
Texhoma is committed to the application of innovative technologies and strong management skills towards the discovery and development of a diverse portfolio of high value, low risk oil and gas projects. The company is actively pursuing opportunities in Texas in and Louisiana.
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