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
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.
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)
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
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.
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***
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
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.