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Texas Oil and Minerals Acquires W.I. in Texas Wilcox Prospect

Texas Oil and Minerals, Inc. Tejones Operating Corporation
AnnouncedOct 9, 2013
TypeFarm-In/Farm Out
LocationWilcox Formation
Announced Date
October 09,2013
Close Date
October 09,2013
Transaction Type
Farm-In/Farm Out
Enterprise Value (EV)($MM)
1




Snapshot
Asset/Basin:
{"Gulf Coast (Wilcox)"}
TargetZones:
{"Wilcox Sands","Wil
Net Acres
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Location
Country
United States

State
Texas

Play
Wilcox Formation



Calculated Metrics( EV/Category)
$/ Acre
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Transaction Details:  Subscribe to see

Texas Oil and Minerals Inc. has acquired a twenty five percent (25%) working interest and an eighteen and three quarter percent (18.75%) net revenue interest from Tejones Operating Corporation, a related party, in a cash and stock transaction valued at One Million Dollars.

The leases are located on a 950 acre site known as the Sullivan Tract located in the east and northeast sections of the Maxine fields in Live Oak county Texas. The field has 23 wells that have produced hydrocarbons out of 16 Wilcox Sands. Tejones has operated the Sullivan Unit for over 14 years. The latest geological…


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