WW Oil and Gas Inc. has made its second payment to Olney Oil and Gas Producers and now retains 50% ownership of the Wolf Lease Properties located in Young County, Texas.
The 300-acre property is currently producing 3-4 bbls of oil per day. WW Oil and Gas anticipates the lease to eventually produce up to 20 bbls of oil per day as additional wells on the property are brought to stream. The company expects to acquire 100% ownership of the Wolf Lease Properties within a two month period.
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