F10 Oil & Gas Acquires Stake in Texas Wells

F10 Oil & Gas has acquired a purchase option for a 25% interest in two wells located in Winkler County, Texas. The wells are located in an 80-acre area known as the Keystone Field.

"This proposed acquisition has a projected payback of 3-6 months on our initial investment," stated Jon H. Marple, CEO and Chairman of F10. "Should the wells continue to produce as projected, they will provide a substantial long-term cash flow for the Company."

Marple indicated that the Company anticipates closing on the purchase within the next thirty days, pending its final due diligence, and is actively in negotiations for additional acquisitions.