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Texas South Energy Inc. (TXSO)

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Last Post: 2/25/2021 2:23:50 PM - Followers: 29 - Board type: Free - Posts Today: 0

TEXAS SOUTH ENERGY, INC (TXSO: OTCBB)
CONTACT INFO:
Texas South Energy, Inc.
4550 Post Oak Place Drive, Suite 300
Houston, TX 77027

TEL 1.713.820.6300
www.texassouth.com
 


A company focused on energy independence through energy partnerships across the USA and the Gulf of Mexico

OUR TEAM

JOHN B. CONNALLY III

 
CHAIRMAN OF THE BOARD OF DIRECTORS
  • Bachelor of Arts and Juris Doctorate degrees from the University of Texas in Austin
    Baker Botts- Partner specializing in corporate finance in oil and gas sector
    Founding Director of Nuevo Energy, Inc.
    Founding Director and Lead Director of Endeavor International Corp.
    Founding Director and former CEO of Pure Energy Group and Pure Gas Partners
    Founding Shareholder of GulfSlope Energy, Inc.
    Founding Shareholder of Texas South Energy, Inc.
    Presently Chairman of the Texas Lt. Governor’s Energy Advisory Board


MICHAEL J. MAYELL

 
PRESIDENT & CEO
  • Bachelor of Science in Mechanical Engineering from Clarkson University
    Shell Oil Company – Drilling & Production Engineering groups in South Louisiana
    Kirby Exploration Company – Vice President of Engineering and Operations
    Founder and President of Sydson Energy 1982 to present
    Co-founded The Meridian Resource Corporation (NYSE) in 1985
    Served as President and Chief Operating Officer of Meridian for 20+ years


     

OUR HISTORY

Texas South is a young, growing company with a diverse range of large scope assets. It began with participation with a first class technical partner in sub-salt projects in the Gulf of Mexico and evolved to including excellent shallow supra-salt projects that became evident from the deeper work. More recently, the company acquired an interest in a number of onshore development style projects that are adding reserves and cash flow while maintaining the scope and scale of the company’s plans.

Head Office

CORE PRINCIPLES

Imagine Working Together, Doing the Right Thing Fairly and Openly

Imagine Think big, plan big. Increase the scope of good projects
Let’s Work Together– As a team. Everybody. Every task. Every day
Do the Right Thing– Do it now, do it as well as you can, all the time
Be Fair– Do not deceive or be deceived. Act as if everyone is watching
Be Open– Respect confidentiality, but otherwise be transparent
 

Texas Gulf Coast and Offshore Projects

Texas South has varying interests in 9 offshore Federal leases covering 7 mapped prospects. Water depths range from 250’ to 450’. Target depths range from 5,000’ to 28,000’.

The Wilinda Project

The Wilinda project in Wilson County, Texas, is an extension of the Austin Chalk/Eagle Ford play that is now being pursued across the entire Chalk Trend area from the Mexican border through Central Louisiana. The Austin Chalk, like the Eagle Ford, is generally considered to be a source rock, and recent results in Karnes County have shown that ultimate oil recoveries have been reported as much as 20% greater than the underlying Eagle Ford. The current play and its outstanding results are based on new generation high intensity fracture treatment completions which are still being tuned to the various areas of the trend.

At the Wilinda area, the Austin Chalk is found at a depth of about 5,000’ and is underlain with productive zones in the Eagle Ford, Buda, Georgetown and Edwards formations. Prior production from the Austin Chalk at Wilinda totals over 6,400,000 barrels of oil (BO) since 1961 together with a smattering of oil production from each of the other zones. While this area is up-dip from the current play (generally at depths of 8,000’ to 10,000’), production at nearby Darst Creek and Salt Flat fields totals several hundred million BO from these zones at or above 3,000’.

Texas South and its partners now hold about 4,400 acres of leasehold in the play and the Company owns a 25% working interest and is the Operator. The initial well in the play in this area, the TXSO Richter 1H, has been drilled and cased to a depth of 9,442’ with a 4,033’ lateral in the Chalk. Results from the frac treatment are expected during December 2018. Wells in the play are generally drilled on 80 acre spacing with subsequent infill drilling to 40 acres in a wine-rack model, so we currently have room for up to 100 wells on the Company’s acreage.


 

Ray and West Tuleta Fields

These two fields are located in Bee County, approximately 10 miles north of the town of Beeville. Initial production was discovered in the 1930’s in the Pettus Formation at about 4000’. Significantly more shallow production has also been found in the Oligocene Vicksburg Formation at 2800’ and several Hockley sands from 3100’ to 3500’. A number of low risk prospects have been identified and mapped updip of productive wells.
 

 

LET'S WORK TOGETHER

We operate all over the Gulf Coast area, and our headquarters is here in Houston. Contact us if you need some information or want to know more about the company


STATE OF CURRENT OPERATIONS AS OF FEB 12, 2018

Texas South Energy (OTCBB: TXSO) Assets and Allocations:

The Tau Well Offshore Gulf of Mexico (GOM) Asset

TXSO Currently Has A 5% Working Interest in the Lease
Indicated Reserves = 300 MMBOE, $18bn (TXSO = $900,000,000)  
Location is at Ship Shoal Blocks 336, 351 GOM
GulfSlope Energy Inc originally hired the EnscoRowan drillrig to drill the well into 
Subsalt Miocene Sand Level, however equipment limitations prevented full-depth and
multiple location drilling in the area.  The lease on the rig expired, and the rig had
contractual obligations with other companies for other targets.  This led to an insurance 
claim and subsequent lawsuit with the insurance company, which was settled in GulfStream's
favor.  GulfStream has a clean balance sheet and intends to drill the prospect again in 2021 
to penetrate deeper into the Upper and Middle Miocene Sand Layer.  An adjacent well, the Mahogany
offshore well, is in production with 4,200 BOE/d and operated by W&T Offshore (NYSE: WTI)
(https://www.offshore-mag.com/drilling-completion/article/14033666/gulfslope-abandons-tau-well-for-now)

Louisiana Bayou Bouillon OnShore Lease Assets

TXSO Currently Has A 45% Working Interest in these Leases
Inidicated Reserves = 20 MMBO, $1.2bn (TXSO = $450,000,000)
- 4 Actively Producing Wells (800 BOPD) (TXSO = $18,000 / day)
- 1 Shut-In Well Awaiting Pipeline Completion
- 1 Injected Well
- 7 Well-Drilling Permits
TXSO has partnered with Sugarberry Drilling, Thyssen Petroleum USA and Sydson Energy to develop the 
Louisiana Prospects. Drilling efforts cannot be ramped up due to pipeline and production facility 
restrictions (http://www.drillingedge.com/louisiana/operators/bayou-bouillon-operating-llc/b2040)

The Wilinda Poject, Wilson County, Texas

TXSO Currently Has A 25% Working Interest in the Lease
Indicated Reserves = 300,000 BOE, $18mn (TXSO = $4,500,000)
The Richter 1H Well was discontiued as the well intersected a previously unknown fault line, which
allowed high pressure water into the frac layer.  The well will be redrilled in 2021, 500ft away from
it's current location to avoid the fault line.  Flowback operations on the well were discontinued in
2019, but will resume in 2021 in the new location.
(http://www.texasouth.com/wp-content/uploads/2019/06/20190613_texas_south_press_release_1.pdf)
King Hall Estate Well and King Hall Estate Well-A are both operational, but BOE/day are unknown

Vermilion Block 378, GOM Canoe Off-Shore Project

TXSO Currently Has A 45% Working Interest in the Lease
Oil Sands were encountered during drilling, but reserves are unknown at this time.  Holes were plugged,
for further drilling at a later date.  
***IN MY OPINION, THIS LEASE WILL BE SOLD OR ABANDONED AT THIS TIME***
(http://www.texasouth.com/wp-content/uploads/2018/08/20180828_texas_south_press_release.pdf)

High Value Off-Shore GOM Targets

TXSO has working interests in 6 other high value off-shore targets (Selectron, Photon, Tanker,
Graviton, Pomeron, and Tachyon)  Current oil reserves are unknown as these are still in the exploration
stage.  ***IT APPEARS AS THOUGH THE CURRENT INCREASED VOLUME IN SHARE PRICE COINCIDES WITH THE BIDEN
ADMINISTRATION'S DECISION TO SWIFTLY APPROVE DOZENS OF OIL DRILLING PERMITS IN THE GOM IN HIS FIRST 
FEW DAYS IN OFFICE*** JAN 27 2021 
(https://www.bloomberg.com/news/articles/2021-01-27/biden-issues-dozens-of-oil-drilling-permits-in-first-few-days)

Bee County Texas Wells and Prospects

TXSO has working interests several injected and operating wells in Bee County, Texas but the BOE/day
production and estimated oil reserves are not known (by me) at this time.  These appear to be shallow
wells and easily accessible with smaller size drilling rigs.

 

 
TXSO
Current Price
Volume:
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TXSO News: Notification That Quarterly Report Will Be Submitted Late (nt 10-q) 10/15/2020 11:54:42 AM
TXSO News: Notification That Quarterly Report Will Be Submitted Late (nt 10-q) 08/07/2020 12:11:11 PM
TXSO News: Notification That Quarterly Report Will Be Submitted Late (nt 10-q) 06/01/2020 05:20:23 PM
TXSO News: Current Report Filing (8-k) 11/15/2019 03:02:25 PM
TXSO News: Notification That Quarterly Report Will Be Submitted Late (nt 10-q) 11/13/2019 04:14:07 PM
PostSubject
#296   Agree, but at the same time, never know. simon song 02/25/21 02:23:50 PM
#295   Probably not today though. 2.5 million shares benchman 02/25/21 01:09:46 PM
#294   Definitely looks that way. $TXSO benchman 02/25/21 10:54:05 AM
#293   It's ready to go again. simon song 02/25/21 10:51:57 AM
#292   Not many posts anymore. Pretty big dip benchman 02/24/21 02:24:54 PM
#291   Hope so..with the energy crisis down in TX..you skay1 02/20/21 09:38:44 AM
#290   TXSO ready for a penny Nebuchadnezzar 02/18/21 10:53:28 AM
#289   Definitely agree. Maybe even close to 10,000% Entjay 02/16/21 08:26:43 PM
#288   TXSO gonna bust loose soooooon. I averaged up charliewho 02/16/21 02:02:14 PM
#287   Yeah i think TXSO is one of those simon song 02/16/21 01:11:07 PM
#286   TXSO is soooooooooooooooooo thin Nebuchadnezzar 02/16/21 01:08:38 PM
#285   Think it’s matter of couple days for next simon song 02/16/21 12:51:56 PM
#284   Good morning TXSO. Penny bound easy Nebuchadnezzar 02/16/21 10:14:54 AM
#283   Chart looking very nice here Golden_Cross 02/15/21 03:14:10 PM
#282   sneaky runner The Night Stalker 02/15/21 12:34:09 AM
#281   His dad was also injured when JFK was Entjay 02/14/21 10:50:51 PM
#280   Current Short Interest: TXSO canestsal 02/12/21 09:36:34 PM
#279   Current State of Operations (Feb 12 2020) canestsal 02/12/21 07:53:04 PM
#277   It's a sleeper for sure spec machine 02/12/21 04:09:34 PM
#276   Once this finds it’s legs, the gains are canestsal 02/12/21 01:24:24 PM
#275   Very thin and low SS Nebuchadnezzar 02/11/21 08:28:41 PM
#274   doingfine 02/11/21 07:58:27 PM
#272   Joined in with a starter and will be doingfine 02/11/21 07:35:14 PM
#271   Still in negotiations. Not yet. canestsal 02/11/21 05:30:01 PM
#270   I added some more at $0.0054 today so simon song 02/11/21 05:27:17 PM
#269   We definitely did alright today. Only down -6.25% simon song 02/11/21 05:24:41 PM
#268   Neb, a few more weeks. canestsal 02/11/21 01:25:27 PM
#267   This is definitely waking up. This is canestsal 02/11/21 12:43:18 PM
#266   $TXSO heavy volume already, getting loaded up for spec machine 02/11/21 11:10:43 AM
#265   With the price of crude rising and demand spec machine 02/11/21 11:03:30 AM
#264   WOW $TXSO still under a penny???? spec machine 02/11/21 11:00:12 AM
#263   Spread so big, its not even funny lol simon song 02/11/21 10:58:02 AM
#262   Last bargain price at $0.005 - $0.0054 simon song 02/11/21 10:15:41 AM
#261   Great info ! Ty for sharing :) simon song 02/11/21 09:05:44 AM
#260   $TXSO-getting what i can under $.01 Nebuchadnezzar 02/11/21 08:36:08 AM
#259   SOME VERY GOOD INFORMATION canestsal 02/11/21 05:59:34 AM
#258   TXSO-one of its higher volume sessions Nebuchadnezzar 02/10/21 03:40:00 PM
#257   youre welcome ;) Nebuchadnezzar 02/10/21 03:39:07 PM
#256   Good chance to get in before shoots up simon song 02/10/21 03:18:45 PM
#255   I would think it’s a huge plus for simon song 02/10/21 03:05:17 PM
#254   TXSO$$$$# SO THIN.... TheGreenReaper 02/10/21 03:01:39 PM
#253   Yes, he is. I get what you canestsal 02/10/21 03:00:33 PM
#252   All the energy stocks are flying to all simon song 02/10/21 03:00:00 PM
#251   I thought you already found out for us simon song 02/10/21 02:53:56 PM
#250   Something big is happening. I have a canestsal 02/10/21 02:48:30 PM
#249   Looking for +300% by eod simon song 02/10/21 02:47:27 PM
#248   I’m in. IamThatGuy 02/10/21 02:46:44 PM
#247   Share Structure updated yesterday. Float has to be simon song 02/10/21 02:46:39 PM
#246   Would love to know if this rise in canestsal 02/10/21 02:37:43 PM
#245   TXSO$$$$$$ TheGreenReaper 02/10/21 02:27:48 PM
PostSubject
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