Jul 30 2015
America Resources Exploration, Inc. today announced that it has begun a property-wide rework program on its Burns and Rogers leases located in Frio and Atascosa County, Texas.
The Company plans to rework most of its wells, including those currently producing. America Resources will also re-enter some wells that are currently shut in to bring them back into production.
Over the last few weeks the Company has been orchestrating location setup including equipment delivery such as a workover rig and operational activities are currently underway. America Resources' operator, Diamond Energy, will be executing the rework program and the Company is additionally soliciting bids from several service providers for its additional completion and oil field service needs.
"We are excited to be entering this phase of development on our Rogers and Burns leases," stated Huang Yu, CEO of America Resources. "The acquisition decision and price for these assets was largely based on the inactive and degraded status of the existing wells. As we execute on our rework plans, the accretive potential of these transactions will be displayed and it also provides confirmation of our business model. We expect to increase field production significantly as a result of the work by early September."
Source: http://www.america-resources.com