Mexco Energy Corporation Announces North Dakota Acquisition
MIDLAND, Texas, Feb. 19 /PRNewswire-FirstCall/ -- Mexco Energy Corporation
announced the purchase of a quarter working interest and has retained a 2.5%
royalty in another quarter working interest for a net investment of
approximately $107,000. This purchase consists of approximately 5,000 acres of
leases in Stark County, North Dakota, and is subject to a 50% back-in working
interest after payout. Out of this acreage, one 320 acre tractis located
directly offsetting a well with an initial production potential of over 1,000
barrels of oil per day plus several hundred thousand cubic feet of natural gas.
The primary zone of interest in this area is the Lodgepole formation at a depth
ofapproximately 10,000 ft. The Company which has been designated operator of
these properties currently plans to begin development of these leases later this
year based on evaluation of production in the area. DATASOURCE: Mexco Energy Corporation CONTACT: Tammy McComic of Mexco Energy Corporation, +1-432-682-1119
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