Dallas, TX, February 21, 2009 --(PR.com
)-- "We see an exceptional landscape to aggressively pursue exploration and development opportunities in 2009 and 2010 as a result of depressed commodity pricing, reduced oil field service pricing, reduced pipe costs and an abundance of rig availability. We believe this will lead to an elimination of many of the scam artists and unscrupulous operators which inflated prices attracted. All of these factors have influenced us to increase our budget for exploration activity in 2009. By taking advantage of this temporary down-turn, we can build reserves and secure acreage for future development at significantly reduced prices and take advantage of the inevitable rebound in pricing in the coming years. We also believe that investing in exploration and acreage in today’s economic climate will produce significant long-term rewards for Gulf Coast Western for many years to come," stated Matthew H. Fleeger, GCW President and CEO.
Gulf Coast Western, a Dallas-based company founded in 1970, is focused on the exploration, development and acquisition of domestic oil and gas reserves.
Matthew H. Fleeger
Gulf Coast Western
12750 Merit Drive, #770
Dallas, TX 75251