Explortex Energy, Inc. (Pink Sheets: EXPX) is pleased to announce that on August 9, 2011, the company entered into an agreement with Mesa Operating, LLC to purchase a 17.5% working interest in the Mesa-Stafford #23-1 well, with an option for another 17.5%.
The Mesa-Stafford Prospect is located in Southeastern Oklahoma in Okfuskee County. The Mesa-Stafford #23-1 will be drilled to a depth of 4,000 + feet to test the prolific Wilcox Formation. The drill site is located in a Wilcox rich production area with produced reserves ranging from 30,000 barrels of oil to over 3 million barrels of oil per well. Abundant well control, geology and seismic data support Wilcox structure underlying the Stafford prospect. There are three to five potential drill sites within the 160 acre Stafford Lease.
The initial development drill site is located within the SE ¼ of SEC 23, Township 12 North, Range 11 East, in Okfuskee County, Oklahoma.
Source: Business Wire
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