LAS VEGAS, Nev., Feb. 20, 2013 /PRNewswire/ -- Bayport International Holdings, Inc. (OTCPINK: EXTO) today are pleased to announce another acquisition of an oil gas producing interest in Nacogdoches County Texas.
The PRODUCING royalty Interest acquired in Nacogdoches County, Texas, is under the Star Duster No. 1 well. To date it has produced 485,182 MCF. The operator is Sonerra Resource Corporation. We would like to diversify the oil & gas acquisitions now and in the future. Even though our main focus will be on acquisitions of strong producing mineral and royalty interest under these oil wells, there is always a need for natural gas production. We plan to acquire interest in both.
The paperwork and closing documents will be filed within the next thirty days at the appropriate places, such as the deed recording offices of the residing County and State for public view. We also will put some of these links on our website.
The details of the well and the interest acquired will be announced in the near future. The company understands the need for diversification in these times. Bayport intends to acquire many producing properties in the oil and gas industry with little to no reflection on the share structure. Special financing is being worked out so that it reduces the major impact on dilution that is seen so common in the pink sheets market.
Management also clearly understands the need for diversification and to bring producing properties on board for the the company operations. We will provide an update on the mining properties in Utah as well.
This acquisition, the Nacogdoches, Texas, Pike County, Mississippi and the Jones County oil production, Texas interest are part of a package deal. We will release all pertinent information once we complete all the transactions. We are obligated to keep shareholders informed of these transactions as they go forth.
About Bayport International Holdings, Inc.
Bayport International Holdings, Inc. is a company formed to exploit the various precious minerals in the U.S. to acquaint the public with practical investment opportunities in strategic metals and minerals. Bayport International Holdings, Inc. is primarily focused on precious metals, rare earth, and oil and gas ventures. Bayport International Holdings, Inc. is developing mining and oil and gas properties with economic potential with the aim of bringing such properties to commercial production. The company's portfolio of properties is primarily located in the prolific western USA in Utah and Texas.
SOURCE Bayport International Holdings, Inc.
To access over 3,000 of the latest oil projects from across the world visit Projects OGP for free trial today