Osyka Corporation (“Osyka”), a Houston-based energy company specializing in exploration, production, development, and acquisition of oil and gas properties, today announced that it has successfully tested a shallow zone of interest in Placedo East Field in Victoria County, Texas and it was found to be gas-productive.

Osyka Corporation, through its wholly owned subsidiary Osyka Permian, LLC (Osyka) acquired an interest in the Placedo East Field in Victoria County, Texas during August and September 2010. Osyka recently tested a shallow zone in Agnes West Well No. 6, one of two shut-in wells and found it to be gas productive in an Upper Frio sand at an AOF rate of 2,876 MCFD and approximately 1 Bbl/MMCF of condensate. The well will be placed on production after all regulatory approvals are granted.

“I am very pleased to report encouraging results from Agnes West Well No. 6,” said founder and CEO Michael Harness. “This new production will further enhance revenue for the company during a time when gas prices are showing signs of a modest recovery. The field was discovered in 1935 by The Superior Oil Company and could still hold potential remaining oil and gas reserves. Therefore, management has decided to conduct a detail evaluation of the field before further plugging operations.”

The company’s management team has a strong track record of finding underdeveloped oil and gas exploitation opportunities principally in the onshore Louisiana, Mississippi and Texas Gulf Coast. Currently, the company has an interest in approximately 18 wells in Texas and Mississippi, with an average working interest of 70%.

ABOUT OSYKA CORPORATION

Osyka Corporation is an oil and gas company headquartered in Houston, Texas, and is a Nevada corporation. The company is an independent exploration and production company with a focus on acquiring producing oil and gas properties located onshore in the Gulf Coast with upside economic potential.

For company information, visit www.osyka.com.

FORWARD LOOKING STATEMENTS

This news release contains forward-looking statements that involve risks and uncertainties, which may cause actual results to differ materially from the statements made. When used in this document, the words “may”, “would”, “could”, “will”, “intend”, “plan”, “anticipate”, “believe”, “estimate”, “expect” and similar expressions are intended to identify forward-looking statements. Such statements reflect Osyka’s current views with respect to future events and are subject to risks and uncertainties. Many factors could cause actual results to differ materially from the statements made including those factors detailed from time to time in filings made by Osyka with securities regulatory authorities. Should one or more of these risks or uncertainties materialize, or should assumptions underlying the forward looking statements prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated or expected. Osyka does not intend and does not assume any obligation to update these forward-looking statements.

Osyka (PK) (USOTC:OSKA)
Gráfica de Acción Histórica
De Nov 2024 a Dic 2024 Haga Click aquí para más Gráficas Osyka (PK).
Osyka (PK) (USOTC:OSKA)
Gráfica de Acción Histórica
De Dic 2023 a Dic 2024 Haga Click aquí para más Gráficas Osyka (PK).