The Lockhart Northeast Project in Caldwell County consists of four land tracts containing eight wells (five re-entry wells and three shut-in wells) over two leases.

The lease is located over roughly 848 acres and if proven viable holds enough space to house a potential further 282 new wells.

During phase one of the five-stage work-over, the company intends to re-enter three wells and the drill out one well on the lease.

The four wells in question are located on three tracts of land know as the Alexander A, housing (1) re-entry well called the #2, the Alexander B, housing 2 shut-in wells called the #1 & #3 and the Anton, housing (1) shut in well called the Anton #1.

The work will enable the company to have four wells in production as well as hold the leases by production.

Initial work will be followed by a detailed evaluation of the possibility of developing the lease to its full potential.

The company believes it should be able to get a considerable amount of production from the three shut-in wells, primarily by swabbing each well, repeatedly if necessary.