|
|
Article: Strategic American Oil Corporation Acquires Previously Producing Wells in Louisiana.
- Article from:
- Energy Weekly News
- Article date:
- November 13, 2009
CopyrightCOPYRIGHT 2009 NewsRX. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
|
Strategic American Oil Corporation (BULLETIN BOARD: SGCA) ("the Company"): is pleased to announce it has completed leasing of over 93% of the mineral interest in the 160 acre Dixon Lease located in the Delhi South Field, Franklin Parish, Louisiana.. The balance of the Material Interest (~7%) is expected to be leased shortly. The Dixon lease contains two temporarily abandoned oil wells at approximately 3400 feet along with two possible offset drilling locations and a salt water disposal well ("SWDW"). The Company and its operating partner, Tradestar Energy, Inc., plan to re-work and re-equip the existing wells and re-work and re-permit the SWDW. Tradestar can earn a 50% ...