CG Operating, Inc. was incorporated in May of 1999 as a Texas Corporation
by Kevin Curtis and Lisa Gourley to explore for petroleum reserves domestically and internationally. Subsequently, CG Operating has sought out risked exploration opportunities for oil and gas as both an operator and a non-operating joint venture partner. As an operator, CG Operating has conducted drilling operations in Texas on locations in Austin, Jim Wells, Sabine and Shelby Counties in both conventional and horizontal wells.
Domestically, CG Operating has largely concentrated its exploration efforts in the Cretaceous carbonates of the Sabine Uplift with outside forays in the Wilcox sands in Austin County and the Jackson, Vicksburg, and Miocene sands in Jim Wells County where we had to quickly develop expertise in handling unexpected sour gas. CG Operating, Inc. is actively looking for new domestic opportunities.
Internationally, CG Operating is a joint venture partner in ATP-1056P in southwestern Queensland, Australia. This 955,149 acre block in the Cooper-Eromanga Basin, with over 80 million barrels of produced oil either adjoining the block or nearby, is well situated to take advantage of the recent improvements in exploration methods and the existing infrastructure. With a wealth of supporting data, ATP-1056P is an outstanding oil exploration opportunity and is well deserving of the investment of time and capital. CG Operating has worked in association with the other joint venture partners to assemble a broader group that has committed to an agressive exploration plan. In September 2010, a seismic crew was mobilized to the block to acquire a 600 square kilometer 3D shoot. The seismic survey was completed in late April 2011 and the processing is now complete as well. The data has more than met our expectations and the drilling of the initial four wells plus three contingent wells is anticipated commmence in September 2011. We are hopeful that the weather will allow us to get the three contingent wells in this year.
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