Baseline Oil & Gas Corp., Houston, (OTCBB: BOGA) plans to acquire producing properties in South Texas from Corpus Christi, Texas-based DSX Energy Ltd. LLP for $100 million. The assets include 100% working interest in 12 wells on assets offset to Blessing Field in Matagorda County. The field has established production in five separate fault blocks with proved and probable reserves in 20 different sands. Baseline will be operator. Pro forma, Baseline will have 100% working interest in both its Blessing and North Texas Eliasville properties and proved reserves of approximately 60 billion cubic feet of gas equivalent (50% gas; 35% proved developed producing).
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