Texas Oil Gas PLC
TEXAS OIL GAS PLC ACQUIRES TWO WESTERN KENTUCKY LEASES
Texas Oil Gas PLC / Key word(s): Acquisition 31.05.2012 / 10:43 --------------------------------------------------------------------- TEXAS OIL GAS PLC ACQUIRES TWO WESTERN KENTUCKY LEASES - 145 ACRES ADJOINING EACH OTHER IN ADAIR COUNTY, KENTUCKY - THE NEWBY LEASE AND THE HAMLET LEASE COMPRISE OVER 145 ACRES - THE FAMOUS GRADYVILLE GEOLOGICAL AREA - THE COMPANY PLANS TO DRILL ON THESES LEASES - SPACING IS AT 5 ACRES AND THE COMPANY CAN DRILL 29 WELLS TOTAL - SHALLOW DRILLING TO 1450 FEET TO 1850 FEET WHICH IS COST EFFECTIVE - WELLS IN THIS GEOLOGICAL FORMATION ARE PRODUCING 5 BPD TO 200 BPD THE MAIN ZONE OF PRODUCTION IS THE KNOX FORMATION; KNOX OIL RESERVOIRS THROUGHOUT SOUTH CENTRAL KENTUCKY COUNTIES ARE SALT WATER DRIVEN. HYDRAULIC PRESSURE FROM SALT WATER ACUIFER IN THE UPPER KNOX FORMATION PROVIDES THE RESERVOIR DRIVE MECHANISM TO PRODUCE CRUDE OIL. THE KNOX FORMATION HAS PRODUCED VERY STRONG PER WELL INTITIAL PRODUCTION RATES AND HAS VERY SUBSTANTIAL IN PLACE RESERVES FOR INDIVIDUAL FIELDS. SEVERAL KNOX OIL FIELDS THROUGHOUT COUBNTIES IN SOUTH CENTRAL KENTUCKY HAVE PRODUCED OVER 200,000 BARRELS OF OIL AND HAVE IN PLACE RESERVES OF OVER ONE MILLION BARRELS OF OIL. NUMEROUS KNOX OIL WELLS IN THESE FIELDS HAVE INITIALLY PRODUCED OVER 100 BOPD. THERE ARE MULTIPLE ZONE PLAYS ON THESE LEASES SUCH AS THE LEIPERS ZONE OR THE FAIRMONT ZONE . SO DRILLING AT DIFFERENT ZONE LEVELS WILL MAXIMIZE THE LEVELS OF PRODUCTION. Contact Details: Martin Keinman President Texasoilgasplc 934 university drive suite 104 Coral springs , Florida 33071 Falconcapital2@aol.com www.texasoilgasplc.com End of Corporate News --------------------------------------------------------------------- 31.05.2012 Dissemination of a Corporate News, transmitted by DGAP - a company of EquityStory AG. The issuer is solely responsible for the content of this announcement. DGAP's Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Media archive at www.dgap-medientreff.de and www.dgap.de --------------------------------------------------------------------- 172266 31.05.2012
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