Gulf Onshore, Inc. Mid-Month Oil Production Increased
Tuesday, August 19th 2008
Gulf Onshore, Inc. announces mid-month oil production figures.
As of August 17, 2008, Gulf Onshore has 627 BO gauged and in the Company’s tank batteries for pick-up from its leases in Throckmorton Co. and Shackelford Co., Texas; an additional 168 BO has already been sold in August 2008. Revenues from August 2008 oil sales will be booked in mid-month September 2008, upon receipt from our oil purchaser.
August 2008 mid-month production compares favorably to July 2008 cumulative production of 913 BO.
Two existing wells were re-worked and two non-productive wells put back into production in the first half of August 2008, under the Company’s Re-Work/Development Program. In addition, we are awaiting Texas Railroad Commission approval of our applications for two additional water injection/disposal wells, which will allow production increases going forward.
Gulf Onshore, Inc. is an oil and gas company with a focus on oil and gas prospects and properties which require further development. Gulf is careful to develop a thorough drilling plan using advanced technologies in both mapping and the use of 3D seismic reports and information. Gulf trades under the ticker symbol GFON.OB on the OTCBB.
