Company Overview

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Burleson Energy Ltd (BUR) has teamed with an experienced Texan oil and gas family (AKG Energy) in the drilling and potential development of hydrocarbons in one of the most valuable energy provinces of America.

BUR listed in May 2006 to acquire a 40% working interest in various oil & gas leases in Burleson County, Texas USA. The Burleson County Properties are located within the prolific Giddings Field area within the Austin Chalk and Georgetown oil & gas trends. Most wells drilled in recent years into the Austin Chalk formation, have discovered gas and condensate.

Late in 2006, BUR embarked on the second phase of asset acquisition by joining with AKG Energy, and major US company, Marathon Oil, to participate in Austin Chalk leases in the Champions area, Grimes and Montgomery Counties, Texas. Combined with some further Champions area leases and acreage in Brazos County - both held by AKG - the new projects provide BUR with at least 7 additional infill development drilling targets. BUR has a 17.5% working interest in these new leases.

BUR's portfolio now consits of a minimum of 25 drilling targets(including 9 firm wells at this stage) poviding a continuous drilling programme of at least 18 months, which could extend to several years. Operator AKG is looking to secure a second rig to accelerate the programme.

Corporate Objectives and Strategies

The Company's principal objective is to become a successful oil and gas exploration and production company characterised by and committed to applying the Company funds in an efficient manner and providing above average and sustainable returns.

In order to achieve its objectives the Company has developed the following strategies:

  • Short term.
    Participate in the proposed nine well drilling program on the Burleson, Grimes, Montgomery and Brazos County properties. 

  • Medium term.
    Participate in the development of any of the wells which are economically viable, and establish positive cash flows. Continue to explore the existing properties and any new leases acquired within the project areas.

  • Long Term.
    Source and participate in exploration and development opportunities in the United States and other parts of the world. Develop a capacity to independently access, develop and operate oil and gas opportunities and pay dividends.