WW Energy Inc. reported that the Company has signed a Letter of Intent for the Producing Wells in Terry County, Texas.
WW Energy Inc. has the opportunity to purchase a working interest in the field mentioned above. This would give the company a cash flow of approximately $500,000.00 per month. The total field is producing approximately 2,150 bbls. of oil and 3,985 mcfd per day. More than 50 wells have been drilled since late 1999 with another two dozen wells identified to drill so far, some being development wells, and some wildcat. There were six wells newly completed and online as of October.
The portfolio is ideally suited for a company seeking new exploration and development opportunities while enjoying strong cash flows being generated from executed projects to date. Such a company will appreciate the strategic ownership of critical pipeline infrastructure, proprietary seismic data and participation in key wells and leases.
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