Kentucky USA Energy, Seminole Energy Ink Deal

Kentucky USA Energy Inc., a natural gas exploration and production company, announces the signing of a non-binding letter of intent with Seminole Energy Services LLC, one of the largest natural gas distributors in the Oklahoma, Kansas and Texas Panhandle region.
Pursuant to the terms of the LOI, Kentucky USA Energy and Seminole will negotiate and execute over the next 30 days definitive agreements for the purchase by Seminole of the production of gas from the company’s wells on its leasehold properties located in the western Kentucky region.
It is expected that the gas will be purchased on a delivered basis into Seminole’s utility system or the pipeline system that Seminole manages.
Tulsa-based Seminole, provides natural gas marketing services to end users and producers primarily in the Southwest, Midwest, Mid-Continent, and Inter-Mountain regions of the U.S. Seminole’s customer base numbers more than 30,000 with average daily sales of 900 million cubic feet of natural gas.
“We have now laid and tested over 45,000 feet of pipe for the company’s gathering system and we thank our shareholders for their support and encouragement as we work to finalize this agreement and begin the sale of our natural gas,” said Steven Eversole, CEO of Kentucky USA Energy. “We expect to complete a formal contract with Seminole within the next few weeks.”
The LOI with Seminole is in addition to the contract that Kentucky USA Energy already has with another distributor, Atmos Energy Marketing.

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