News

October 06, 2009

Resaca Exploitation Pulls Off A Coup By A Merger With Another Look Alike Permian Basin Oil And Gas Producer

A Reserves and operations update together with its results for the fiscal year ended June 30 2009 from Resaca Exploitation, the oil and gas producer in the Permian Basin in the US, are satisfactory enough, save that they have been have been completely overshadowed by an exciting merger with another small cap Permian Basin producer.

The Permian Basin in West Texas and New Mexico has been one of the largest and most prolific oil and gas producing basins in the US, having seen output of over 24 billion barrels of oil since its discovery in 1921. Not a few E& P companies believe that the basin has still some way to go in what it can produce. Resaca is one such small group which believes over time it is still possible to build substantial production from the Permian Basin.

Where Resaca differs from some other...