Drilling logs revealed 94 feet of net oil and gas pay
VENTURA, Calif. (PRWEB) March 14, 2008
Team Resources Direct Participation Program, Natural Gas & Oil Choice Development Fund I, L.P., participated in a well where oil and natural gas was discovered and logged in late November 2007. The discovery was made at the Snapper 2A well in St. Martin Parish, Louisiana, at a depth of 10,100 feet. Estimated reserves are 1 million barrels of Oil and approximately 2 to 4 Billion Cubic Feet of Natural Gas.
"Drilling logs revealed 94 feet of net oil and gas pay," said Kevin A. Boyles, President & CEO of Team Resources and General Partner of Natural Gas & Oil Choice Development Fund I, L.P. "The well is currently producing and participants can expect to begin receiving revenue distribution by the end of June, 2008," Boyles added.
Further developmental drilling is expected at the property in St. Martin Parish. The Company will keep participants updated with further production and drilling progress along with all revenue distributions.
About Team Resources, Inc.
Team Resources, Inc, a Ventura California based oil and natural gas company, founded in 2002 by Mr. Kevin A. Boyles. The Company, with over 100 years combined experience in oil and gas, specializes in developmental drilling and production of 'Proven Under Developed' reserves. Team Resources' sponsors Direct Participation Programs for accredited individuals to have direct ownership, entitling them to cash flows generated by these development sites. All of the Company's Programs offer Federally Approved "flow through" Tax Benefits directly to the participants. Team Resources through its offices in Houston, Texas, manages various projects in development and production in California, Kansas, Louisiana, Oklahoma and Texas. To learn more about Team Resources, Inc. visit: http://www.TeamResources-Inc.com.