Pepper Rock Resources Corp. is an emerging company focusing on low risk exploration and production reclamation projects in the oil and gas sector. They are currently negotiating a joint venture project based in Texas. This project would encompass the drilling of several development wells and the re-entry of existing producing wells. In addition, they are evaluating several producing oil and gas properties based in Canada and the United States.
Pepper Rock engages in the careful identification and acquisition of high quality opportunities in the natural gas sector. The Company is working to assemble asset and property combinations, which will include exploratory promise, ongoing production, in-place infrastructure, growth potential, and the ability to offer short-term returns and significant value over the long term.
Yesterday, Pepper Rock Resources Corp. reported that they have made an initial investment of $300,000 as part of phase one of three phases in their joint venture agreement with Oxalis Energy Group, Inc., based in Katy, Texas. In addition, earlier this week, Pepper Rock Resources announced that Mr. Phil Kueber received election as President, Secretary and Director of the Company, effective immediately. Mr. Kueber is an experienced veteran of the resource and venture capital industry for over 20 years. He has served as the President and CEO of several resource companies in the oil and gas sector.
Today, Pepper Rock Resources Corp. reported that the Company is pleased with their joint venture agreement with Oxalis Energy Group, Inc. and they are optimistic to further the West Texas Project. The Company intends to re-enter two existing wells and drill as many as ten new natural gas wells. The drilling program in this project encompasses 21,000 acres of high quality natural gas at depths of 4,400 to 5,200 feet.
“This property in West Texas has enormous potential according to sector analysts with estimates of total potential valuation ranging from $285 million to $423 million based on recent geological reports of undeveloped reserves on the property,” Pepper Rock President Phil Kueber said.