Texhoma Acquires Buck Snag Prospect

Texhoma Energy, Inc. reported that it has completed its acquisition of the Buck Snag oil and gas project.

Texhoma has acquired a 30% interest covering 280 acres of land in Colorado County, Texas. Shallow development wells will be drilled on the property and completed to produce by-passed and attic gas reserves. The first well will be drilled to a depth of approximately 4,500 feet.

The structure and isopach maps that can be found on Texhoma's website illustrate the estimated lateral extent and sand thickness of the primary reservoir objectives. The first well will be drilled approximately 500 feet north of the Windsor #2-Schiurring well. Subsequent well locations and depths will be keyed off the geology of the first well.

Texhoma has been informed by the operator of the project that the first well of the Buck Snag project was spudded on August 9th. The current progress is that the well was drilled to 561 feet and 8 5/8th inch surface casing was run. Drilling of the No. 1 Schiurring well is anticipated to take approximately one week.