Cowpen Creek West and Gordon Field, (both situated in Beauregard Parish), the Company has purchased a controlling interest in three producing wells; all of which are flowing wells, in consideration for US$250,000. According to production records obtained from the operator, one of the wells has a production history of flowing 20 barrels of oil per day for the last fifteen years; while the other two flow a combined 12 barrels of oil per day. In the case of the last two wells, these wells also produce water requiring expensive hauling to a salt water disposal facility miles away. TransAmerican has acquired the rights to a nearby salt water disposal well. The Company plans to alleviate the water hauling problem and hopes to improve production in the wells. Geological evidence exists that has been reviewed by the Company’s geologist which indicates other drilling opportunities in these new Fields. The present lease position is 120 acres(40 acres per well).It is the intention of TransAmerican to obtain more acreage in this area.
