Consolidated Oil and Gas Enters into Contract to Acquire Additional 14 Producing Oil Wellsadmin
Consolidated Oil & Gas, Inc., a publicly traded Energy and Exploration Oil & Natural Gas company, is pleased to announce they have entered into a contract to purchase existing oil production in the Taylor-Ina Field in Medina County, Texas. Existing production ranges from 240 to 270 barrels per month from approximately 14 well bores.
Consolidated plans to use secondary recovery technology (nitrogen, steam or some other method of enhanced oil recovery) which if effective could increase production to 1,000 plus barrels per month.
This lease is approximately 110 acres with estimated recoverable reserves at approximately 210,000 barrels from the present producing zone. Furthermore, the Olmos zone at 950 feet has the potential for additional reserves once studies are complete.
For more information please contact Investor Relations at (973) 351-3868 or visit www.consolidatedoilgas.com.
About Consolidated Oil and Gas:
Consolidated Oil and Gas, Inc. is a US based company engaged in the exploration and production of onshore domestic oil and natural gas properties. The company’s exploration and production activities are focused primarily in Texas. Their mission is to apply strong technical expertise to unlock substantial oil and gas resources in areas where production can be achieved quickly and efficiently.
Safe Harbor Statement: This press release may contain forward looking statements, as defined in the Securities Reform Act of 1995. Actual events or results may differ from Consolidated Oil & Gas, Inc. expectations on a negative or positive basis and are subject to a number of known and unknown risks and uncertainties: including economic conditions, and availability of timely financing for projects.
Consolidated Oil and Gas, Inc. Investor Relations: Stephen Taylor, 973-351-3868 STEPHTAYL9@AOL.COM
Source: Consolidated Oil & Gas, Inc.