NEWS OUT!!!
The terms call for US Natural Gas Corp KY to acquire twenty five producing oil wells, two water injection wells, and associated equipment all located in the Pine Grove oil field which was identified in the early 1990s. The wells are drilled to an average depth of 1400 ft and produce from the Devonian Clear Creek formation. The wells are located on a leasehold base of five individual leases covering approximately 600 acres. Inclusive within the acquisition, E 2 Investments, LLC, a wholly owned subsidiary of the Company, will acquire 182 acres of mineral rights.
