PAYSON, Ariz., May 3, 2016 /PRNewswire/ -- Midwest Oil and Gas (OTC PINK: MWOG) announced today the acquisition of a lease located in Callahan County, Texas. The tract consists of 160 acres located on the south half of the Greenburg Logan Survey 209, Abstract No. 269.
Callahan County is a small area (900 square miles) that is a well-known oil and gas producing county with over 19,000 wells drilled to date.
The company will be engaging an experienced geologist to calculate the oil and gas reserves that could be located on this newly acquired lease and will be releasing the results once they become available.
With oil prices hovering at a 2016 high, Midwest Oil and Gas will start looking at expanding its operations outside of the Kansas area and throughout the U.S.
About Midwest Oil & Gas
Midwest Oil & Gas is a hydrocarbons exploration and production company with its main base of operations in Kansas. The company's flagship property is a combination of 3 leases located in Montgomery County, Kansas totalling around 600 acres with 30 wells on site which are currently non-producing.
Forward Looking Statements and Safe Harbor Statement
This release contains certain "forward-looking statements" relating to the business of Midwest Oil and Gas and its subsidiary companies, which can be identified by the use of forward-looking terminology such as "estimates," "believes," "anticipates," "intends," expects" and similar expressions. Such forward-looking statements involve known and unknown risks and uncertainties that may cause actual results to be materially different from those described herein as anticipated, believed, estimated or expected. Certain of these risks and uncertainties are or will be described in greater detail in our filings with the Securities and Exchange Commission. These forward-looking statements are based on Midwest Oil and Gas Inc.'s current expectations and beliefs concerning future developments and their potential effects on Midwest Oil and Gas Inc. There can be no assurance that future developments affecting Midwest Oil and Gas Inc. will be those anticipated by Midwest Oil and Gas Inc. These forward-looking statements involve a number of risks, uncertainties (some of which are beyond the control of the Company) or other assumptions that may cause actual results or performance to be materially different from those expressed or implied by such forward-looking statements. Midwest Oil and Gas Inc. undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required under applicable securities laws. Forward-looking statements in this release are made pursuant to the 'safe harbor' provisions of the Private Securities Litigation Reform Act of 1995 and the Bespeaks Caution Doctrine.
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SOURCE Midwest Oil & Gas