Ambassador Petroleum Inc.

Ambassador Petroleum Inc. has retained The Oil & Gas Asset Clearinghouse to sell certain operated Texas assets in a negotiated transaction.

The package includes 100% working interest (75% net revenue interest) in the N. LaWard, Texana and Hornbuckle fields in Jackson County. The properties target the stacked Frio sands.

Production is 225 gross barrels of oil and 1.9 million gross cubic feet of gas per day. Monthly net cash flow is $735,000.

Upside includes multiple behind-pipe and development drilling opportunities.

The bid due date is July 28. The effective date is July 1. Contact Pat Dapra, 832-601-7655, pdapra@ogclearinghouse.com.