Oil Production Increase for Blackhorn #1

Blackstone #1, an oil well located in Liberty County, Texas recently reported a substantial production increase in BOPD.
Feb. 3, 2009 - PRLog -- Texas Energy Group, LLC (TEG) would like to formally announce a production increase for the Blackstone #1 located in Liberty County, Texas.

The Blackstone #1, an oil well that was offered as part of Texas Energy Group's Cleveland Six drilling project located in Liberty County, Texas, reported a production increase from 65 BOPD to over 200 BOPD within the last week.

Mark Baize, VP of Operations for Resaca Resources (the operating arm of Texas Energy Group), believes this production increase is due to the formation cleaning up on its own.

Texas Energy Group is currently pinching the well back to 65 BOPD in an attempt to protect the formation. Texas Energy Group also wants to keep it at 65 BOPD due to current (low) commodity prices.

TEG is currently funding their 3P project. The 3P Project offers three (3) shallow and relatively inexpensive gas wells to drill and complete. These three wells are direct analog offsets to the currently producing West Powell #1.

Based on TEG's Miocene gas discovery on the West Powell #1 well in Goliad County, Texas TEG has now been able to develop three (3) direct analog offsets to drill. These three (3) wells range in depth from 1,850 - 2,700.

For further information on the 3P Project and/or other oil and gas investment opportunities with Texas Energy Group, please contact their Investor Relations Department at (877) 893-6749.

This press release may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. In particular when used in the preceding discussion, the words "believes", "expects", "intends", "will", "anticipated" or "may" and similar conditional expressions are intended to identify forward-looking statements within the meaning of the Act and are subject to the safe harbor created by the Act. Except for historical information, all of the statements expectations and assumptions contained in the foregoing are forward-looking statements that involve a number of risks and uncertainties including, without limitation, risks associated with operations, availability of capital on a reasonable term, the effects of government regulations and operations risks, and the risk factors set forth from time to time in the Company's SEC reports, included but not limited to its annual report on Form 10-KSB; its quarterly reports on Forms 10-QSB, and any reports on Form 8-K. It is possible that the assumptions made by management are not necessarily the most likely and may not materialize. Waylan Johnson President Texas Energy Group takes no obligation to update or correct forward-looking statements, and also takes no obligation to update or correct information prepared by third parties that are not paid for by the Company. The forward-looking statements contained herein reflect the Company's judgment as of the date of this release, and the Company cautions readers not to place undue reliance on these statements. 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 Investment and Exploration 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.
Source:A Escalera (TEG)
Email:***@texasenergygroup.com Email Verified
Phone:(877) 893-6749
Tags:Texas Energy Group, Oil And Gas Investments, Us Oil Investments, Oil And Gas Investment Opportunity, Oil Industry Invest
Industry:Business, Energy, Finance
Location:Spicewood - Texas - United States
Account Email Address Verified     Account Phone Number Verified     Disclaimer     Report Abuse
Page Updated Last on: Feb 03, 2009
Texas Energy Group News
Daily News
Weekly News

Daily News
Weekly News
PTC News

Feb 03, 2009 News

Like PRLog?
Click to Share