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Explortex Energy Inc (fka EXPX) RSS Feed

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** Oil and Gas Exploration $50,000 Funding  Aquisistions to Follow **


 

EXPX is pleased to announce the company filed an 8K on February 28, 2011, disclosing the completed purchase of a 51%

working interest in 200 acres of an Oil Lease, located in Edwards County, TX, from UHC Petroleum Services Corp. The total

consideration for the purchase is $5,500,000 as detailed with the SEC. In conjunction with that purchase, the company appointed

Kenneth E. Martin as its President and Director.



Explortex Energy, Inc. (Pink Sheets: EXPX) is pleased to announce that the company is in the process of permitting its first well in Jack County.

The Explortex lease is located in an area commonly known as the Marble Falls play. There are over twenty wells on the perimeter of the Explortex acreage, which are producing an average of 40 barrels of BOE per day, per well.

Explortex's intent is to drill five wells on its leased acreage and is expecting those five wells to meet the surrounding offset well production levels. These are long-life wells, with shallow decline curves. The first well's AFE (Authorization For Expenditure) is priced at $850,000 


Explortex Energy, Inc. based in Katy TX, is an independent oil and gas exploration company with North American operations. Explortex practices a sensible and intelligent approach to oil and gas exploration which helps ensure a closely monitored cash-flow while providing direct, singular access to a roster of qualified engineers, drilling and development specialists, geologists and geophysicists. Explortex is a company that is poised to take advantage of the current market pricing of oil and gas that have created new opportunities to bring online proven undeveloped reserves, with very little downside risk to the company. The company's primary operating philosophy is to develop low risk, high yield, under developed oil and gas reserves utilizing the most current technology available.  


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