$MOLOF ~ Molori Energy has closed on the purchase
Post# of 88883
Ponderosa, a domestic USA oil and gas production company, is the operator on the leases and is presently focused on aggregating and developing shallow conventional oil reserves in Texas. Ponderosa purchased these leases from distressed operators with highly-leveraged balance sheets and an inability to fund operations.
MOLOF and Ponderosa have chosen to collectively pursue assets which specifically exhibit the following properties: shallow reservoir, low geologic risk, moderate decline rates, and existing infrastructure. The focus of Molori and Ponderosa’s activities has been in the “Hugoton-Panhandle” field in Northern Texas. Learn more at: http://www.molorienergy.com