Spicewood, TX, June 20, 2013 --(PR.com
)-- Texas Energy Group, LLC (TEG) along with its industry partners and affiliate operating company, Resaca Resources, LLC, completed the drilling of the Cleveland Townsite #1 well last week. The well was drilled to a total depth of 9,670’, encountering three potential productive upper Wilcox formations that are all considered prolific in the area.
“The well drilled out exactly as expected with the structure matching our geological predictions. The log, cores and formation tests are very encouraging as to the potential of oil discovered and possible future production,” stated Waylan Johnson, President of Texas Energy Group, LLC. He further stated, “The ability to find oil conventionally in proven mature fields is alive and well, proven once again by this Cleveland Townsite well.”
The Cleveland Townsite #1 well was offered in TEG’s CTS Project, which included participation from industry partners and TEG investors alike. TEG continues to develop numerous areas in Liberty, Montgomery and Tyler County, Texas with expectations of drilling several more wells in the coming months.
For further information regarding topics discussed in this article please contact Texas Energy Group, LLC directly via their Investor Relations Department; (877) 893-6749 or visit them on the web at www.TexasEnergyGroup.com where you can sign up for the TEG (corporate) mailing list and receive up to date information on general TEG activities, including all TEG press releases.
Emails may be directed to Info@TexasEnergyGroup.com
Disclaimer: This release/announcement/document is neither an advertisement, an offer to sell, nor a solicitation of an offer to buy securities, Units or participations of Texas Energy Group, LLC (TEG). This release/document contains certain statements, estimates, and forecasts with respect to future performance and events. All statements other than statements of historical fact included in this release/announcement/document, a Memorandum, or the TEG website, including, but not limited to, statements regarding future performance of events, are forward-looking statements. All such forward-looking statements are based on various underlying assumptions and expectations and are subject to risks and uncertainties which could cause actual events to differ materially from those expressed in the forward-looking statements. As a result, there can be no assurance that the forward-looking statements included in this release/document, a Memorandum, or the TEG Website will prove to be accurate or correct. In light of these risks, uncertainties and assumptions, the future performance or events described in the forward-looking statements in this release/document, a Memorandum, or the TEG Website might not occur. Accordingly, investors should not rely upon forward-looking statements or historical performance as a prediction or indicator of actual or future results. Also, Texas Energy Group, LLC., its officers, principals, employees, agents, subsidiaries, affiliates and consultants, and the other parties, investors, and partners involved in any properties, programs and TEG activities have conflicts of interests. The price received for the oil and natural gas produced from any investments, activities, properties may be less than quoted NYMEX prices at any given times. TEG does not undertake any obligation to update any forward-looking statements, facts or other information, whether as a result of new information, future events, subsequent circumstances or otherwise. Information herein is not intended to be any form of solicitation. Information found on this page is neither an offer to buy or sell securities or other investments.