Houston-based Osyka Corporation has signed a letter of intent with Viper SWD to acquire Una West Field, an oil field located in Victoria County, Texas.

Currently, the field has two working wells producing a combined 20 barrels of oil a day and eight shut-in wells.

Osyka founder and CEO Michael Harness said that this field is promising and the eight shut-in wells may have upside potential to produce both oil and gas.

The company anticipates the closing of the Una West oil field acquisition by 30 November 2010.

Osyka is an exploration and production company with a focus on acquiring producing oil and gas properties located onshore in the Gulf Coast with upside economic potential.

The company said that currently it has an interest in approximately 18 wells in Texas and Mississippi, with an average working interest of 70%.