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Bayport International provides update to the Gaines County Texas wells


Published Apr 15, 2013
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Bayport International Holdings, Inc.

Bayport International Holdings, Inc. provides an update to Gaines County, Texas. Peck A and Peck B oil lease.

On July 28, 2011, the Company entered into an agreement with Rio Rancho Oil & Gas Resources, a Texas oil & gas company (Rio Rancho). Pursuant to that agreement, Bayport acquired a 3.5% leasehold; a non-participating working interest in wells obtained by Rio Rancho through leasehold. The nonparticipating working interest does not require that the Company fund, in any way, production of the wells, only receive revenues.

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