Blugrass Energy Inc., Dallas, (OTC: BLUG) has entered into letters of intent with multiple parties for the acquisition of certain interests in the Mississippian play in Osage and Woods Counties, Oklahoma .
The assets are in two counties:
The total price for these two asset packages is $10,256,000.00. The cash requirement to close is $1,506,000.00; convertible notes ...
Osage’s Nemaha Ridge Project delivered strong growth in crude oil and natural gas production during the first quarter of 2013.
The Blevins 1-7H, located in Section 7-17N-3W and operated by Stephens Production Company, achieved one-day peak production of 557 BOE on a gas lift and has averaged 466 BOE in the seven days since that peak.