The Holdings
Williams: Pursuant to a previously acquired option to purchase, the Company successfully purchased the working interest in the three (3) Williams Leases, the "Louie Williams," the Williams “A” and the Williams “B" the acreage is located near Abilene Texas.
The Company recently received an updated geological report on the Williams Lease, showing 24M barrels of recoverable reserves. The zones are shallow zones, with depths less than 1,000 feet, including the following zones: (i) Frye, Tannehill, Saddle & Bluff Creek; and (ii) the Upper, Middle, and Lower Cook zones.
Contract Area 1: The Company has also acquired a sixty percent (60%) working interest in four (4) leases totalling 247 acres known as Contract Area 1 (C/A1). The leases are: "Roy Adams" (160 acres); "Isenhower" (20 acres); Isenhower Estate "C" (22 acres); and the W. Isenhower Estate. C/A1 is estimated to have 85,000,000 gross BBLS of oil with 36,000,000 net BBLS of oil recoverable.
Parks: TX Holdings acquired a seventy-five percent (75%) working interest in the Parks Lease (the "Parks"). The Parks is 320 acres with approximately 22 existing wells and estimated recoverable reserves of 12M to 13M barrels and is located next to the Williams Leases.