Superior Oil & Gas Leases Four Drilling Locations in the Barnett Shale Pla

Dan Lloyd, president of Superior Oil and Gas has recently acquired an oil and gas lease covering four drilling locations one and one- half miles south of the town of Meridian in Bosque County, Texas. "We're right in the fairway," said Lloyd. "There are numerous Barnett Shale directional wells that have been completed well down into the northeast quarter of the county. Meridian is just about in the center of the county, and there are two wells drilling now just south and west of the town. Depending on the outcome of the two wells now drilling, we could be favorably positioned to commence drilling at any time."

Texas is experiencing a significant drilling and producing play in the Barnett Shale north of Superior's lease and moving southward toward it. Well logs adjacent to Superior's area indicate about 300 feet of Barnett Shale overlying the Ellenberger. As a general proposition, the Barnett Shale is heavily fractured and is uniformly productive in the area. The Ellenberger, when found to be productive, is one of the prime producers in the state of Texas.