The price of crude seems to be stabilizing in the $60+ range which allows E & P companies like VENETO to beging loooking for prospects. We have several leases in the North Texas area that warrant further work-over and development.
VENETO is developing a new drill site in the South West corner of Block 47 of its Piave “A” Lease located in Throckmorton County, TX. Based on valid geological information there is reason to believe the Veneto Strawn is present at approx 4000’.
VENETO owns the 280 acre RJ Miller Lease in Wichita County, the oldest producing lease in TX RRC District 09. Well # 2A was drilled in 1912 and it still makes ¼ bbl a day. The company has an ongoing work-over plan for this lease.
VENETO continues to work on its TCSL lease, in Throckmorton County. The Tannehill Sand blankets the lease at 700‘+/-. We expect production to gradually increase as we adjust the chemical treatment and work-over several wells during 2018.
VENETO has a 170+/- acre Waggonner VFW lease in Wichita County, just South of Electra. This lease is on the renown Waggonner Ranch, the largest continous fenced rank in the US. Severla well bores need to be worked over and some behind-pipe payzones that warrant exploration.
Plano TX 75074Tel.: 972-633-8886
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