Bayou Bend Wins Bid at Western Gulf Lease Sale
Bayou Bend Petroleum says that it was the apparent high bidder for 2 blocks on the Outer Continental Shelf in the Western Gulf lease sale held on August 22, 2007.
The successful bids cover 2 blocks (#542 and #547) in the West Cameron offshore area bringing the total gross acreage held by the Company to 73,277 acres. Leases are expected to be awarded by the Minerals Management Service in the near term.
Mr. Clint Coldren, President of Bayou Bend, commented, "With these two new successful bids, Bayou Bend now holds or has earn-in rights for a 100% interest in 8 OCS Gulf of Mexico blocks and earn-in rights for a 25% interest in a 9th block. The Company is rapidly building a highly prospective portfolio of quality assets in the Gulf region. We look forward testing the numerous large prospects identified on our acreage."
Bayou Bend is an oil and gas exploration and production company with a focus in the Gulf of Mexico shallow water shelf area. The Company has lease interests in the State Waters of Louisiana near Marsh Island and in several Federal OCS blocks offshore Louisiana and Texas. The Company has an aggressive drilling program planned for 2007 including a minimum of 7 exploration wells.
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