Texas Energy Group, LLC Announces Close of Funding for GK Project and introduces NEW Battle Prospect

Texas Energy Group, LLC (TEG) would like to formally announce close of funding for the GK Project and introduce their new drilling prospect, The Battle, located in Ft. Bend County, Texas.
Jan. 5, 2010 - PRLog -- Texas Energy Group, LLC (TEG) has completed funding of its GK Project. TEG is excited to have both private and industry partners involved in this project. The GK Project is comprised of two (2) wells located in Goliad & Karnes Counties, Texas which will be drilled to a total depth of 9500' +/- under a turnkey drilling contract with Blackcreek Drilling. Both wells are expected to produce natural gas with associated oil.

TEG is also proud to announce their new drilling prospect, The Battle. The Battle is a single well project located in Ft. Bend County, Texas. Funding for this project began December 21, 2009.

"The reserve potential of these three (3) wells combine, exceed 15 BCF & 500,000 BO which would truly enhance TEG's position in the Upper Gulf Coast", said Waylan Johnson, President of Texas Energy Group, LLC.

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

About Texas Energy Group, LLC
Texas Energy Group, LLC (TEG) is committed to creating a vehicle where individual investors can become long term partners who, over a period of time, develop a portfolio of oil and gas properties that generate monthly cash flow and substantial tax write offs. TEG offers its qualified participants, direct undivided working interest positions into new oil and gas well drilling ventures. Through direct participation programs in oil and gas, investors actually own a portion of the well and receive a share of the cash flow it generates via monthly disbursements. TEG acts as the managing entity over the entire process.  They begin with their geologists identifying a prospective anomaly by utilizing 3D Seismic technology, they then acquire the mineral leases over the prospect site, work to obtain funding, then begin to operate and drill the well, complete the well, and as a licensed operator Resaca Resources (TEG’s operating arm) is also able to handle the day to day operations and sale of produced gas and oil.  Resaca Resources is then responsible for sending out monthly revenue checks to their partners as well as preparing and sending out daily drilling reports, permits, maps and related geology, production, revenue, and expense statements.

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, and the effects of government regulations and operations risks. 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.

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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.
Source:A Escalera (TEG)
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Location:Spicewood - Texas - United States
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