Operations
Mississippi: Several possible leases to drill and 17 wells currently in production
Texas: Farmout agreement with Tracer Operating Company, Graham, Tex., to recomplete three shallow gas and oil wells with an option to recomplete three additional wells. These are shallow recompletions (3,600 feet to 4,500 feet) in Palo Pinto and
Stephens county, Texas
Three possible lease payouts (From 6-9% to 18-22%)
– Craig Lease (Paid Out September 1, 2018)
– Barnum Lease (Paid Out July 1, 2018)
– Drouet Lease
(Timing is undetermined due to fluctuating oil prices)
Production Purchases:
-5.47% Working Interest (Announced July 12, 2017)
-1% Working Interest (Announced October 19, 2017)
– Share buyback recently approved by management (NCIB – Normal Course Issuer Bid)
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