There are pretty concrete rumors that Ameratex Energy is pleased to announce they have signed a memorandum of understanding to acquire a two thousand seventy five (2,075) acre oil and gas lease in Texas.
Management believes the lease to be a strong acquisition as it lies on strike with other companies producing oil in the area
The Company believes that per the report, it may contain significant oil and gas reserves which may yield up to two million barrels of oil (2,000,000 BO) and may yield up to thirty eight billion cubic feet (38,000,000,000 Ft3) of natural gas, and create the potential for a seven to eight well drilling program which would require a capital budget of roughly fifteen million four hundred thousand dollars ($15,400,000).
Ameratex Energy Oil Increases Supplies in the Gulf Coast 