PLANO, TX, Sept. 9, 2013 /CNW/ - Santa Fe Petroleum, Inc. (OTCBB: SFPI) announced today the completion of the purchase of mineral interest leases totaling 320 acres in Jack County, Texas.
According to Tom Griffin, CEO and Chairman of the Board of Santa Fe Petroleum, Inc., "Santa Fe closed on the purchase of mineral interest acreage leases in Jack County, Texas on Tuesday September 3, 2013. The acreage is located in the heart of the Marble Falls oil and gas boom area of north central Texas which is a highly developmental area. The Marble Falls is a blanket formation in Jack County, Palo Pinto and other counties in central Texas and we anticipate drilling our first well on the acreage before the end of the year as well as continuing our efforts contracting for additional acreage."
Santa Fe has always maintained a policy of stringent guidelines for the selection of its drilling projects to reduce the risk as much as possible, although there is no guarantee of a 100% success rate; Santa Fe's commitment to its stockholders is to maintain the highest possible standards for the selection of its projects.
About Santa Fe Petroleum, Inc.:
Santa Fe's Management has over 50 years of combined oil and gas development and production experience and plans to purchase additional acreage leases in Jack County and surrounding counties as well as to bring its current leases into production as soon as possible.
For more information on Santa Fe, please visit www.sfpetroleum.com.
This news release does not constitute an offer to sell or a solicitation of an offer to buy securities in any jurisdiction.
This release may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Statements contained in this release that are not historical facts may be deemed to be forward-looking statements. Investors are cautioned that forward-looking statements are inherently uncertain. Actual performance and results may differ materially from that projected or suggested herein due to certain risks and uncertainties including, without limitation, ability to obtain financing and regulatory and shareholder approvals for anticipated actions.
SOURCE: Santa Fe Petroleum, Inc.
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