Swordfish will acquire no less than a 20% ownership of the working interest at the well, and will be responsible for locating, acquiring, and implementing the equipment necessary to get the well into full production.
Drilling has been conducted up to approximately 11,200ft, which according to the company is deep enough to access the Cotton Valley and Haynesville Shale.
A pressure test has been carried out by Swordfish Financial, producing positive results.
Swordfish Financial CEO Mike Alexander, "We are in the process of completing our due diligence on this project and believe this to be a great opportunity to increase shareholder value."
Swordfish Financial is a publicly held diversified financial asset recovery company formed to acquire dormant and orphaned assets, and provides funding for organizations in the currently underserved humanitarian and eco-friendly markets.