Texas Oil and Minerals Begins the Work Over of the Four Wells In Brazoria County, Texas, Taking Them to Full Operating Capacity
HOUSTON, July 11, 2011 /PRNewswire/ -- Texas Oil and Minerals, Inc., ("Texas Oil") (OTC Pink: BNPD) announces that it plans to begin a work over of the four wells located in Brazoria County, Texas. On June 13, 2011, Texas Oil entered into an agreement to purchase a 25% working interest in the Bryan Estate Lease which is part of the Damon Mound Field. Texas Oil and Minerals with their team of geologists and engineers are structuring the procedure for the work-over and wash out of the existing wells on this lease. www.texasoilandmineralsinc.com
"We are excited to begin the work over on the Bryant Estate leasehold," said Texas Oil and Mineral's CEO, Tom Gouger. "The work-over rig and wash tank should be on location within the next three weeks to pull each well and make any repairs that are needed to the rods and tubing. We will then use the tubing to wash down to the top of the sand screen and spot chemical that will dissolve the paraffin. This will be repeated on each well and will take about two weeks to complete."
After completion this should bring them to full field production to an average of 20 barrels of sweat crude oil per day.
"Were excited about the increase in production revenues that will show on Texas Oil and Minerals next quarter balance sheet," added Gouger.
About Texas Oil and Minerals (BNPD)
Texas Oil and Minerals creates value by acquiring and exploiting reserves in fields specifically targeted for oil and high-rate return North American clean burning natural gas. We are involved in prospects that range in value from $1,000,000 to $50,000,000, which include seismic and land projects, drilling prospects and the purchase of producing properties. Our team is comprised of highly skilled industry professionals who leverage their knowledge toward the success of our business. With more than three generations of collective experience, this team of professional and talented production personnel can provide innovative exploration and development solutions focused on creating exceptional returns in oil and gas through acquisition and exploration. www.texasoilandmineralsinc.com
Safe Harbor Statement:
This release includes forward-looking statements intended to qualify for the safe harbor from liability established by the Private Securities Litigation Reform Act of 1995. These forward-looking statements generally can be identified by phrases such as INCL or its management "believes," "expects," "anticipates," "foresees," "forecasts," "estimates" or other words or phrases of similar import. Similarly, statements herein that describe the Company's business strategy, outlook, objectives, plans, intentions or goals also are forward-looking statements. All such forward-looking statements are subject to certain risks and uncertainties that could cause actual results to differ materially from those in forward-looking
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SOURCE Texas Oil and Minerals
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