|By Marketwired .||
|June 5, 2014 05:00 PM EDT||
GALLATIN, TN--(Marketwired - June 05, 2014) - Southern Energy Group, Inc. (SEG) announced its acquisition of a 20% stake in the Warnicke-Joslin Lease located in Guadalupe County, TX. Geologic (a geological engineering company) has evaluated the lease's potential and concluded, "The Warnicke-Joslin Lease is a multi-well re-stimulation and secondary recovery project for the production of oil from the Austin Chalk, Eagle Ford, and Buda reservoirs consisting of a total of 4 wells. The Warnicke-Joslin Lease is ideally located along the up-thrown side of the Luling-Branyon Fault, thereby increasing the productive potential of the multiple reservoirs and maximizing per well production."
Southern Energy Group, Inc. is engaged in the oil and gas business, with operations located primarily in Texas. The Company's ultimate strategic focus is the production of oil and natural gas, lease development, and enhanced reserve capabilities. The Company believes that its oil and natural gas development strategy will provide growth to the Company in the future. Mr. Anthony White, President, stated, "SEG is excited to have acquired this stake in the Warnicke-Joslin Lease in Guadalupe County, Texas. We continue to add substantial value to our company, and for our partners, as we build a reputable company presence in this industry by growing our productive asset base. We are proud to have now increased our holdings in this area to 90 wells."
Southern Energy Group is a Tennessee-based oil and natural gas exploration and development company with operations located primarily in Texas. SEG and its experienced management team are well situated to take advantage of the many opportunities that are present in today's energy markets. SEG feels that with the stabilization of higher than average oil prices, it is well positioned to profit in today's booming energy market.
This press release may contain "forward-looking statements" defined in the Private Securities Litigation Reform Act of 1995. Such statements are based on management's current expectations and are subject to a number of factors and uncertainties that could cause actual results to differ materially from those described herein. Although the Company believes that the expectations in such statements are reasonable, there can be no assurance that such expectations will prove to be correct.
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