- March 21, 2012 - SPICEWOOD, Texas --
Austin, TX – March 21, 2012- Texas Energy Group, LLC (TEG) is pleased to announce the successful drilling of the Blackstone Southland #1 well, located in Montgomery County, Texas. The Blackstone Southland #1 well was drilled, logged, tested and cased in late November 2011. This well was one of two prospects offered in TEG’s LD Drilling Project.
“We are extremely excited about our discovery made in Montgomery County, Texas. Not only did the well drill as structurally predicted, but we actually found more productive sands than expected,” stated Waylan Johnson, President of Texas Energy Group, LLC. He further stated, “We continue to be very fortunate in finding commercial reserves in old mature fields without having to take larger risk.”
The Blackstone Southland #1 well was drilled to approximately 7,400’. Logging and testing resulted in the discovery of at least six potentially productive oil and gas sands being identified. The well was initially flow tested at a daily rate of 800,000 CFGPD with associated condensate on a 10/64th choke, from the Mulepond sand. Post geological reports estimate that there are an additional two to three potentially productive locations on the current acreage block that can be developed in the future. Resaca Resources, LLC (Operator for TEG) currently holds the rights to the acreage blocks for all potentially productive locations.
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 where you can sign up for the TEG (corporate) mailing list and receive up to date information on general TEG activities, including all TEG press releases.
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.
# # #
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.