Brenham Oil & Gas Acquires 332-Acre Lease In South Texas

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Description

Acquired a 332 acre oil and gas lease in Victoria County within the Inez Field prospect.

Brenham Oil & Gas Corp. (OTC: BRHM) announced Jan. 16 the acquisition of a 332 acre oil and gas lease in the Inez Field Prospect located in Victoria County, Texas.

Brenham, based in Kemah, Texas, acquired #1 Roberts Unit wellbore and all the associated downhole and surface equipment. The company acquired 100% of the working interest and a net revenue interest of 74%. Brenham will pay an additional $230,000 to the seller prior to the beginning of any oil and gas exploration.

Ken Petroleum Corp. drilled and completed the Roberts well in 1990. The well flowed 2.7 million cubic feet per day (MMcf/d) of gas on an 8/64 inch choke. According to a test completed by Stuart Petroleum Testers in 1990, the well had a potential of 9 MMcf/d of gas. The well has since been shut-in.