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Bayport International Holdings, Inc. Provides update to the Gaines County Texas Wells
Bayport International Holdings, Inc. Provides update to the Gaines County Texas Wells.
About this update from Bayport International Holdings, Inc.
[{"type":"text","content":"\n\n\n\n\n\n\n\nBayport International Holdings, Inc. Provides update to the Gaines County Texas Wells\n\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:\"0in\";\n}\n\n\n\n\n\n\n\n\n\n\nBayport International Holdings, Inc. Provides update to the Gaines County Texas Wells\n\nPR Newswire\n\nLAS VEGAS, April 11, 2013\n\n\n\n\n\n\n\n\n \n \n \n\n\nLAS VEGAS, April 11, 2013 /PRNewswire/ -- Bayport International Holdings, Inc. (OTCPINK: EXTO). Today we are pleased to announce an update to Gaines County, Texas. Peck A and Peck B oil lease.\n\n\n\n\n\n\n\nOn July 28, 2011, the Company entered into an agreement with Rio Rancho Oil & Gas Resources, a Texas oil & gas company (\"Rio Rancho\"). Pursuant to that agreement, Bayport acquired a 3.5% leasehold; a non-participating working interest in wells obtained by Rio Rancho through leasehold. The nonparticipating working interest does not require that the Company fund, in any way, production of the wells, only receive revenues. \n\n\n\n\nThe assignment of oil gas and mineral leases were filed of record on 11/17/2011 and being of file number 20015777, and recorded in the deed records in Gaines County, Texas. You can look this data up at www.texasfile.com.\n\n\n\n\n\nThe wells are located within Section 372, Block \"G\", Gaines County, Texas. The Peck \"A\" lease covers 320 acres, and in December of 2002 had a production rate of 7,256 barrels per month. This can be verified on the Texas Railroad Commission, link http://www.rrc.state.tx.us/data/online/gis/index.php#. This first well is expected to resume producing from the existing 11,000 foot depth. The second well will be re-worked at the 3,500 foot depth to test the San Andres zone. Wells directly adjacent to the south of this property have produced 400 BOPD from the San Andres zone, although same in no way guarantees the same production from the wells in which the Company has an interest.\n\n\n\n\nAs of 4/10/2013 the operator already has equipment on ground and is confident to have the pumpjack in place in two weeks. Logs available as soon as possible.\n\n\n\n\nThe first well within the Pec...