Monday, July 25, 2011
Doxa Energy Ltd.
Doxa has closed on the acquisition of a 16.70625% interest in the County Line North Project, McMullen County, Texas, a new venture targeting various Wilcox formation zones of interest. The County Line North Project, operated by Hurd Enterprises, Ltd., of San Antonio, Texas, is a conventional gas condensate prospect which is situated on an initial 280 acre block of leases. Drilling of the Kynette No. 1, the initial well on this project, has been commenced and is proceeding towards its permitted depth of 10,500'. Doxa owns 16.70625% working interest before payout, reverting to 12.5% after payout of this project, and expects its share of the leasehold and initial completed well cost to total approximately $500,000. This project is situated approximately 2 miles northeast of a recently announced successful completion, the Martin-State Gas Unit No. 1 well, a high rate Wilcox producer completed in the Campana, South (Wilcox 10,200') Field. Hurd Enterprises, Ltd. also operates the Martin-State well.
Doxa Energy Ltd. develops and maintains a portfolio of producing and developing conventional and unconventional assets, including the Eagle Ford shale oil window play in South Texas, and the recently announced acreage acquisition in the Mississippian Oil Play of northern Oklahoma.
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