By GlobeNewswire, March 18, 2013, 11:58:00 AM EDT
Brenham Oil & Gas Corp. Acquires Ten Percent Working Interest in the Pierce Junction Oil Field in Houston, Texas
HOUSTON and KEMAH, Texas, March 18, 2013 (GLOBE NEWSWIRE) -- Brenham Oil & Gas Corp., (OTCBB:BRHM) ("Brenham"), a majority owned subsidiary of American International Industries, Inc., (OTCBB:AMIN) ("American"), today announced that it acquired a ten percent working interest in the Pierce Junction Oil & Gas Field in Houston, Texas.
Bryant Mook, Brenham's recently elected President, stated that "the Pierce Junction field is one of the oldest and most prolific fields in the Houston area. This field has been producing oil & gas since 1921 and has produced over 104 million barrels of oil since that time mostly from Miocene, Frio, and Vicksburg reservoirs."
Brenham's asset acquisition includes eight producing wells with an additional seven wells scheduled for mechanical work-over that should add more oil reserves to Brenham. Additional offsetting acreage can be developed by Brenham on a well by well basis to produce additional oil reserves from several producing horizons.
For more information regarding Brenham please visit its website: http://www.brenhamoil.com/
Brenham Oil & Gas Corp. is an independent oil and gas company engaged in the acquisition of petroleum resources. The Company's focus is on coupling United States development/production assets with international exploration in locations such as Sub-Saharan Africa. Brenham's management team includes experienced professionals from major oil and gas companies.
This press release may contain forward-looking statements, including information about management's view of the Company's future expectations, plans and prospects, within the safe harbor provisions under The Private Securities Litigation Reform Act of 1995 (the "Act"). All statements other than statements of historical information provided herein may be deemed to be forward-looking statements. Without limiting the foregoing, the words "believes", "anticipates", "plans", "expects" and similar expressions are intended to identify forward-looking statements. Factors that could cause actual results to differ materially from those that we may anticipate reflected by our subsidiaries' operations include without limitations, growth in the energy sector and in the oil and gas service industry, increased levels of competition, new products and technology changes, and the market for pipes, the rules of regulatory authorities and risks associated with any potential acquisitions. Readers are cautioned not to place undue reliance on these forward-looking statements, which reflect management's analysis, judgment, belief or expectation only as of the date hereof. Finally, the Company undertakes no obligation to update these statements after the date of this release, except as required by law, and also takes no obligation to update or correct information prepared by third parties that are not paid for by the Company.
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Source: Brenham Oil & Gas Corp.