By San Antonio Business Journal

Baron Energy Inc. has acquired a 20 percent working interest in an oil property in Archer County, Texas, for an undisclosed sum.

The oil property is currently producing from the Gunsight Formation. Baron President and CEO Ronnie L. Steinocher says the company has also retained the option to purchase an additional 20 percent working interest in the property within the next six months. Steinocher says there appears to be some upside potential to this property using production enhancement procedures. Baron is the operator of the five-well property.

New Braunfels, Texas-based Baron (Pink Sheets: BROE) is an independent oil and gas company with operations targeting the Permian Basin.

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