ECCO Energy Acquires Land Lease in LA for $2.6 Million

ECCO Energy Corp. has acquired a 3600 acre lease in the Bateman Lake and Sweet Bay Lake area, located in St. Mary Parish Louisiana for $2.4 million in Convertible Preferred B shares and $200,000 of debt assumption. Previously, the acreage had been under a letter of intent for a farm-out agreement with VTEX Energy, Inc. "We are excited because this property has produced over 120 BCF of natural gas in the past and we believe it has at least 10 BCF of proven reserves yet to be developed," said Sam Skipper CEO of ECCO Energy.