Petro Resources Announces Results in Nacogdoches County, Texas

Petro Resources Announces Results in Nacogdoches County, Texas

Petro Resources Corporation announced that the Company has acquired an additional 5% non-operated working interest in the Surprise Prospect operated by Goodrich Petroleum Corporation (GDP – News). The Surprise Prospect is located approximately 5 miles southeast of the Trawick field in Nacogdoches County, Texas. The additional 5% brings the Company’s gross working interest to 10% in the approximate 6,000 acre prospect.

The Company has participated in the drilling of three initial exploratory wells in the prospect. The Goodrich Petroleum Grisby No. 1 and the Goodrich Petroleum Lilly No. 1, both of which have been drilled to the base of the Travis Peak formation at approximately 11,250 ft. Both wells have been logged and are currently awaiting completion operations.

The Company is also currently participating in the drilling of the third prospect well which is the Goodrich Petroleum Tucker No. 1. The Tucker No. 1 is planned to reach a total depth of approximately 14,500 ft. to test the primary objectives of the James Lime and Travis Peak formations, as well as the secondary objective of the Bossier/Haynesville Shale.

Upon completion and satisfactory production evaluation of these initial wells the Company anticipates additional drilling of perhaps as many as six wells in the Surprise Prospect acreage.

Petro Resources Corporation is an independent exploration and production company engaged in acquisitions of exploratory leases, acquisitions of producing properties, secondary enhanced oil recovery projects, exploratory drilling, and production of oil and natural gas in the United States.

The Company is currently producing oil and natural gas from a geographically and geologically diversified reserve base. The Company’s net total proved reserves of more than 3 million barrels of oil equivalent is distributed among 19 fields in the states of North Dakota, Texas, and Louisiana.

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