HOUSTON, Texas (PRWEB) September 1, 2005
An energy growth stock investment opportunity (see http://www.consolidatedoilgas.com/growth-stock.htm) announces new developments on one of their Texas properties. Domestic oil and gas production company, Consolidated Oil and Gas, Inc. (Stock Symbol: CSGL) has completed Phase One of the development of its 1,800-acre lease in Dimmit County, Texas.
The company has reworked nine producing oil and gas wells, and all infrastructures to deliver gas and oil to the market is in place.
Until the pay out to its partners is complete Consolidated Oil and Gas (see http://www.consolidatedoilgas.com) will receive 20% of net revenues from the Dimmit County property. After the payout, the Company will retain 45% of net revenues. Average life span of the current producing wells is 7 to 10 years.
One of the Austin Chaulk wells on the property has never had horizontal drilling and is currently available for future development. This lack of horizontal drilling is of particular interest because it increases the odds of finding additional limestone stratas of gas and or oil near the original well.
In addition, Consolidated has identified 10 additional locations on the property to drill shallow gas wells. These wells contain multiple zones in different strata and show evidence of strong future commercial production.
Mr. Yeatman, President of Consolidated Oil and Gas (see http://www.consolidatedoilgas.com/oil-gas-management.htm), stated, “We plan to continue aggressively acquiring additional leases in the Texas counties of Zavalla, Dimmit and LaSalle. The leases should provide our company with residual revenue over a period of 5 to 10 years.
Consolidated has retained an Investor Relations representative to meet the increased interest in the growth potential offered by its stock (CSGL). For more information please call Stephen Taylor of Taylor Capitol, Inc. at (973) 351-3868.
Consolidated Oil and Gas, Inc. (http://www.consolidatedoilgas.com/texas-oil.htm) is engaged in the exploration and production of onshore domestic oil and natural gas properties. The company specializes in reentry well projects throughout Texas and the Gulf Coast region.
Their mission is to apply strong technical expertise to unlock substantial oil and gas resources in carefully selected areas where production can be achieved quickly and efficiently with minimum risk. The major emphasis on developing existing well bores and re-entering wells behind existing pipe to produce oil and gas enables Consolidated to reduce costs and enhance the potential to generate substantial higher investment returns. This also minimizes the risks and high capital costs typically associated with drilling new wells.
In addition, Consolidated has an experienced management team with extensive knowledge and experience in their region. Management is focused on minimizing project and operational costs and expenses in order to increase profitability.
As part of the corporate growth plan Consolidated oil & Gas is offering qualified investors the opportunity to profit by directly participating in Joint Venture partnership of selected projects. For more information visit the Oil Project Investment page (http://www.consolidatedoilgas.com/oil-investments.htm) or contact the company directly at (281) 446 – 7122.
This news release is for information purposes only. This should not be considered a solicitation to buy or sell stocks. The release contains information available to the public through the company issued press releases. The company has neither approved nor disapproved this release. This release may contain forward-looking statements, as defined in the Securities Reform Act of 1995. Actual events or results may differ from Consolidated Oil & Gas, Inc. expectations on a negative or positive basis and are subject to a number of known and unknown risks and uncertainties: including economic conditions, and availability of timely financing for projects.
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