PetroGas Company, Inc. (OTC PINK:PTCO) announced that it has acquired interests in oil and gas mineral rights in Terry County, Texas.
As quoted in the press release:
The interests consist of a minority stake in two large sections of three different surveys in the county totaling 1,600 acres. Terry County has over 3,600 drilled wells with top producing operators including Apache Corporation and Exxon’s XTO Energy. Terry is a proven oil and gas production area.
Huang Yu, CEO, commented:
We’re delighted to have been able to close on this purchase during a time when oil and gas prices are hovering at 3-year highs. We believe that owning a stake in the largest petroleum-producing basin in the US is an achievement in itself and we plan to continue pursuing opportunities throughout the US as they become available to us.