PACO Acquires for Little Fox Oil Lease Properties
PACO Oil & Gas Inc. has completed a transaction to acquire the Little Fox Oil Lease Properties. Little Fox is located adjacent to the Fox properties PACO currently operates in Oklahoma. The property has two oil wells requiring renewal. The company expects the wells to produce at similar rates as its neighboring Fox wells. PACO Oil & Gas also announced that it expects to have the first of the Olsen Lease wells in production by the end of this month. The company is nearing completion of the infrastructure to accommodate and service all wells on the Olsen lease properties. Management reports that initial tests revealed oil in all of the Washington County located Olsen lease wells.