Company Information for Resaca Exploitation Inc

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Company Statement

Resaca Exploitation, Inc. is an independent oil and gas exploitation company headquartered in Houston, Texas.

The company was formed in 2006 to exploit a number of oil and gas properties in the Permian Basin of the United States. Resaca was admitted for trading to the AIM market of the London stock exchange on 17 July 2008.

Operations and Technology

Resaca was formed in March 2006 by Torch and a group of private investors to acquire and exploit a number of oil and gas properties in the Permian Basin. The Permian Basin, one of the largest and most prolific oil and natural gas producing basins in the United States, extends over 100,000 square miles of West Texas and Southeast New Mexico and has produced over 24 billion bbls of oil since its discovery in the early 1920s. The Permian Basin is characterised by oil and natural gas fields with long production histories and multiple producing formations. Resaca’s producing properties in the Permian Basin are mature fields with established decline curves. The Directors believe that Resaca’s Primary Properties are readily exploitable through secondary and tertiary recovery. 

The Properties are located in West Texas and Southeast New Mexico on the Central Basin Platform of the Permian Basin and consist of approximately 15,000 gross/14,000 net acres contained in three main field complexes and a group of minor fields. The Company’s primary fields, which contain 89 per cent. of Resaca’s current proved and probable reserves, are the Cooper Jal Unit in Lea County, New Mexico; the Penwell Complex in Ector and Crane Counties, Texas; and the Grand Clearfork Unit in Pecos County, Texas (the “Primary Properties”). 

These Properties are located in the Permian Basin of West Texas and Southeast New Mexico. The Company routinely evaluates, and may acquire, further exploitation opportunities in the Permian Basin, other US basins and in areas outside the US and will continue to do so following Admission. Through its relationship with Torch Energy Advisors Incorporated, a privately owned, Houston-based company, Resaca has access to an experienced team with a long and successful history of owning and operating oil and gas projects, having been responsible for the investment and management of over US$3 billion in the energy industry.

Board of Directors and Key Management

Executive Chairman	James Perry (JP) Bryan Jr.
Chief Executive Officer	John J. (Jay) Lendrum III
Non-Executive Director	John Bentley
Non-Executive Director	Judy Ley Allen
Non-Executive Director	R. Kelly Plato

Company Address 1331 Lamar Suite 1450 Houston, United States 77101 Telephone: +44 (0) 207 466 5117 Email: lendrumj[at]resacaexploitation.com Website: http://www.resacaexploitation.com

Additional Address/Key Contact Investor Relations Buchanan Communications Tel: 44 (0) 20 7466 5000

Capital Total Fully Diluted Shares Outstanding 98,121,041;100.0%

Major Shareholders

Significant Shareholders	No of Shares	% Outstanding	% Fully Diluted
James Perry (

Related News

09/12/09 - Resaca Exploitation Says Its Reverse Takeover Of Fellow US Permian Basin Operator To Be Completed In The First Quarter Of 2010
06/10/09 - Resaca Exploitation Pulls Off A Coup By A Merger With Another Look Alike Permian Basin Oil And Gas Producer
18/06/09 - Resaca Exploitation Gets Production Moving Again After A Deferral of Its Work Programme While Commodity Prices Recovered
14/04/09 - Broker Seymour Pierce Is Upbeat About Resaca Exploitation’s Reserves and Value Despite The Company’s Deferral of the Next Phase In Its Work Programme
04/03/09 - Resaca Exploitation Reins In Spending Plans In Response To Oil Price Decline And Eyes New Opportunities
19/12/08 - Resaca Exploitation Holding Back Development Spending Until The Price Is Right

Most Recent Statement

18/02/10 - Operations Update
03/12/09 - Status Update Re: Merger with Cano Petroleum, Inc.
30/09/09 - Proposed Merger with Cano Petroleum, Inc.
29/09/09 - Reserves and Operations Update
17/07/09 - Depositary Interest Facility & Admission to CREST
30/06/09 - New Credit Facility