HOUSTON, TX–(Marketwired – February 07, 2017) – Petrogas Company, Inc. (OTC PINK: PTCO) (“Petrogas Company” or “the Company”), today announced that it has acquired an oil and gas lease of approximately 160 acres in Payne County, Oklahoma.
According to the EIA, Oklahoma recently ranked fifth in crude oil production in the nation and the state is one of the top natural gas-producing states in the nation, accounting for around 7% of U.S. gross production.
“With this latest acquisition in Oklahoma, the company is now an important holder of leases in the state as it marks our fourth acquisition in the area. Payne County is an up and coming location for oil and gas drilling with a lot of potential which we intend to explore,” said Mr. Yu, CEO of PetroGas Company.
About Petrogas Company, Inc.
Petrogas Company, Inc. is an oil and gas exploration and production company focused on the acquisition of properties in areas with significant oil reserves and drilling potential. The Company’s growth strategy includes the acquisition of oil fields from distressed third parties at a substantial discount to value, and development of fields whose potential has not been fully maximized. For more information investors can visit www.petrogas-company.com.