Signature Exploration and Production Corp. on Monday announced plans to begin drilling operations in the Company's Victoria County, Texas "Koliba" prospect in early 2010.
The prospect has proven, but undeveloped, reserves that are located in the North McFaddin Field, which, according to Texas Railroad Commission maps and records, hosts 87 productive oil and gas zones. This low risk prospect targets 3 Frio Sand target zones. Company President and CEO, Steven Weldon, stated, "Moving forward with our first drill stage prospect is creating a great deal of excitement and we look forward to continuing our strategy of participating in what we believe are low risk/high reward prospects."
Signature Exploration and Production Corp. is an independent energy company engaged in the exploration, development, exploitation and acquisition of on-shore oil and natural gas properties in conventional producing areas along the gulf coast of Texas.
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