PRLog (Press Release)
- Nov. 22, 2011 -
Texas Energy Group, LLC (TEG) is pleased to announce a Wilcox discovery in Liberty County, Texas. The Pelican #1 well was drilled and completed in the second quarter of 2011 and was a part of TEG’s PNM Project.
The Pelican #1 well was drilled to approximately 9,200’ to test a 200 acre Wilcox age closure. Logging and testing proved up a discovery in the Sherwood formation in excess of a 1,000 acre productive area. Third party geology reports estimate potential reserves of the structure upwards of 12BCF and 250,000 BO.
“We are extremely excited to announce our continued success in Liberty County. This well is yet another, in a list of successful wells from Liberty County, that will add impressive value to our Partners’ interest,” stated Waylan Johnson, President of Texas Energy Group, LLC. He further stated, “When you can drill a well less than 10,000’ in depth and can identify approximately $50 million worth of product (at current commodity prices), it helps build reserves quickly.”
For further information regarding topics discussed in this article please contact Texas Energy Group, LLC directly via their Investor Relations Department; (877) 893-6749 or visit them on the web at www.TexasEnergyGroup.com.
Emails may be directed to Info@TexasEnergyGroup.com
Disclaimer: This release/announcement/
document is neither an advertisement, an offer to sell, nor a solicitation of an offer to buy securities, Units or participations of Texas Energy Group, LLC (TEG). This release/document contains certain statements, estimates, and forecasts with respect to future performance and events. All statements other than statements of historical fact included in this release/announcement/
document, a Memorandum, or the TEG website, including, but not limited to, statements regarding future performance of events, are forward-looking statements. All such forward-looking statements are based on various underlying assumptions and expectations and are subject to risks and uncertainties which could cause actual events to differ materially from those expressed in the forward-looking statements. As a result, there can be no assurance that the forward-looking statements included in this release/document, a Memorandum, or the TEG Website will prove to be accurate or correct. In light of these risks, uncertainties and assumptions, the future performance or events described in the forward-looking statements in this release/document, a Memorandum, or the TEG Website might not occur. Accordingly, investors should not rely upon forward-looking statements or historical performance as a prediction or indicator of actual or future results. Also, Texas Energy Group, LLC., its officers, principals, employees, agents, subsidiaries, affiliates and consultants, and the other parties, investors, and partners involved in any properties, programs and TEG activities have conflicts of interests. The price received for the oil and natural gas produced from any investments, activities, properties may be less than quoted NYMEX prices at any given times. TEG does not undertake any obligation to update any forward-looking statements, facts or other information, whether as a result of new information, future events, subsequent circumstances or otherwise. Information herein is not intended to be any form of solicitation. Information found on this page is neither an offer to buy or sell securities or other investments.
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Texas Energy Group (TEG) is an Austin, TX based Oil & Gas Exploration and Investment Company specializing in multi-well, low risk developmental drilling projects. For Oil & Gas Investment information go to www.TexasEnergyGroup.com or call (877) 893-6749.