Signature Exploration Renews Lease on Nettie Rhodes Property in Young County, Texas
Signature Exploration and Production Corporation (OTCBB: SXLP), an independent energy company engaged in the exploration, development, exploitation and acquisition of onshore oil and natural gas properties in the U.S., reported that the lease agreement on its Nettie Rhodes property located in Young County, Texas has been extended for another twelve (12) months.
Signature Exploration and Production Corporation (OTCBB: SXLP), an independent energy company engaged in the exploration, development, exploitation and acquisition of onshore oil and natural gas properties in the U.S., reported that the lease agreement on its Nettie Rhodes property located in Young County, Texas has been extended for another twelve (12) months.
The press release is quoted as saying:
In August 2009, Signature Exploration acquired a five percent (5%) turnkey working interest on the Nettie Rhodes lease with an option for an additional 25% in a lease located in the southwest corner of Young County. The approximately 160-acre lease lies roughly six miles northeast of the town of Woodson on the west flank of the Bend Arch in Central Texas. Currently, five wells located in the lease area and adjacent to the property are producing oil and/or natural gas.