Lockhart Northeast Project, Texas
On October 1st 2009, Liberty Energy entered into a Lease Purchase and Sale agreement to acquire four oil and gas leases in Texas.
The final property, the Lockhart Northeast Project in Caldwell County, houses two leases. Consisting of three land tracts containing seven wells (five re-entry wells and two shut-in wells), the site is spread over approximately 803 acres – enough space to house a potential further 282 new wells.
With numerous geological pay zones spread across the leased area, we are confident that any future development will prove extremely profitable to Liberty Energy’s shareholders.
In addition to the extensive earning potential found in this lease, Liberty Energy remains committed to the future. Upon completion of the transactions above, we intend to continue exploration throughout each of our four properties, assuring production and profitability for many years to come.
