The following assets represent just the beginning of Bayou City’s future revenue stream. Charlie Bukowski, President of Bayou City, has chosen a philosophy of growth that allows for outstanding risk mitigation for the company’s stockholders by maintaining/investing in minority, non-operated positions in several wells as opposed to investing large amounts into fewer wells. This philosophy allows for participation in several fields, opening the door for field development in the event a successful well creates additional drilling opportunity, and, protects the operating cash flow by reducing the “inherent risks” associated with oil and gas exploration.
As growth and revenue increase in the future, Bayou City will continue to maintain the minority ownership philosophy, keeping all well ownership under 50 percent and increasing the number of projects in which we participate.
For exact ownership and productions information, please refer to Bayou City’s 10-K or 10-Q as reported to the Securities Exchange Commission. The information is available at www.sec.gov or on our Investor Relations page.
SEISMIC DATA
Bayou City owns a database of more than 7,200 square miles of 3-D data, as well as 13,000 miles of 2-D data.
KEY DEVELOPED PROPERTIES
Rooke # 1 The Company owns a minority interest in 1 well located in Refugio County Texas which began production in September 2009. The well produces about 350 Mcf per day and about 10 Bbls of oil per day. Chapman No. 75-1 The Company owns a minority interest in 1 well located in Nueces County, Texas which began production in October 2009. The well produces about 375 Mcf per day. Garcitas #1 The Company owns a minority interest in 1 well located in Jackson & Victoria County, Texas. The well has been drilled and was completed during the first quarter of 2010. There has been minimal production thus far from this well, but is expected to have stable production during the second quarter of 2010. Rooke B-1 The Company owns a minority interest in 1 well located in Refugio County, Texas. The well has been drilled and was completed in early 2010. Rooke #2 The Company owns a 9.5% working interest in 1 well located in Refugio County Texas. This well has been completed during the first quarter of 2010 and has had minimal production during the first quarter. Production is expected to become stable during the second quarter of 2010.
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