Louisiana Shelf Partners owns Louisiana State Lease Number 17742 in Block 4, covering 600 acres in East Cameron Area in Cameron Parish Louisiana. The property consists of two wells: the #1 well, proved developed non-producing (PDNP), and the #2 well, which is a proved undeveloped location (PUD). Management of ECCE believes that based upon today's pricing, the potential reserves may be valued in excess of $40,000,000. The #1 well flow-tested approximately 1 million Mcf/d, and 100 barrels of condensate per day.
Samuel M. Skipper, ECCE's Chairman and Chief Executive Officer states, "I am very excited to announce this acquisition. This gives ECCO the critical mass, net worth, and reserve base needed for ECCE to be a successful exploration & production company. Our goal is to immediately connect the #1 well, and drill the #2 well, thus dramatically increasing our cash flow. We are currently in negotiations with two companies, exploring the most cost effective way to establish production."
ECCO Energy Corp. is a growing independent oil and gas exploration and production company headquartered in Houston, Texas. The Company is engaged in the acquisition, development and production of oil and natural gas reserves. The company's primary focus is Texas, Louisiana, and the Gulf Coast region.
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