The greater Gillock Field has produced more than 116,000,000 Barrels of Oil since its discovery in the 1930's and more than 281,226,688 MCF Gas since 1963, and Dickinson Field has produced more than 22,200,000 Barrels of Oil and 78,289,956 MCF Gas since 1956 to date from numerous continuous and semi-continuous mostly Frio age sandstone reservoirs. Additional reserves from the Vicksburg formation are also present and have produced in nearby wells. Drilling and drainage will be on standard 40 acre spacing currently present in the field except for the Vicksburg which may be 160 acres or more.
For information regarding risk factors associated with Brenham, please see our 2012 10-K filing.
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Brenham Oil & Gas Corp. is an independent oil and gas company engaged in the acquisition of petroleum resources. The Company's focus is on coupling United States development/production assets with international exploration in locations such as Sub-Saharan Africa. Brenham's management team includes experienced professionals from major oil and gas companies.
This press release may contain forward-looking statements, including information about management's view of the Company's future expectations, plans and prospects, within the safe harbor provisions under The Private Securities Litigation Reform Act of 1995 (the "Act"). All statements other than statements of historical information provided herein may be deemed to be forward-looking statements. Without limiting the foregoing, the words "believes", "anticipates", "plans", "expects" and similar expressions are intended to identify forward-looking statements. Factors that could cause actual results to differ materially from those that we may anticipate reflected by our subsidiaries' operations include without limitations, growth in the energy sector and in the oil and gas service industry, increased levels of competition, new products and technology changes, and the market for pipes, the rules of regulatory authorities and risks associated with any potential acquisitions. Readers are cautioned not to place undue reliance on these forward-looking statements, which reflect management's analysis, judgment, belief or expectation only as of the date hereof. Finally, the Company undertakes no obligation to update these statements after the date of this release, except as required by law, and also takes no obligation to update or correct information prepared by third parties that are not paid for by the Company.
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