Signature Sees Significant Potential at South Texas Asset

Signature Exploration and Production Corporation announced today that its joint venture partner in South Texas has leased a 1,043 net acre (m/l) Frio Sand (gas) target in South Texas. The target was identified through the acquisition of a 303 sq. mile 3D seismic database. Signature currently owns a 10% working interest with an option of 10% on additional wells on the prospect. The prospect has two potential targets for drilling, which previously have produced over 500,000 bbls.

The exploration team believes the multiple Frio sands identified in the seismic profile could contain significant gas and condensate reserves and proposes to drill one to two wells to test the Frio zones. "The Frio formation, a sandstone interval, is one of the most prolific producers in South Texas. Our interests in this prospect lie directly on the trend with many other major gas/condensate producing fields," said Steven Weldon, Chairman and CEO of Signature Exploration and Production Corp.

The target was identified through the acquisition of a 303 sq. mile 3D seismic database. Signature currently owns a 10% working interest with an option of 10% on additional wells on the prospect. The prospect has two potential targets for drilling, which previously have produced over 500,000 bbls.

The exploration team believes the multiple Frio sands identified in the seismic profile could contain significant gas and condensate reserves and proposes to drill one to two wells to test the Frio zones. "The Frio formation, a sandstone interval, is one of the most prolific producers in South Texas. Our interests in this prospect lie directly on the trend with many other major gas/condensate producing fields," said Steven Weldon, Chairman and CEO of Signature Exploration and Production Corp.

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