WW Energy Inc. announced today that its subsidiary WW OIL & Gas Inc. has completed the purchase and substantial acquisition of oil properties located in Oklahoma. The transaction recently completed includes a total of 32 oil wells located on approximately 120 acres of property in Oklahoma. Included in the purchase are 2 producing wells with an additional 30 wells to be re-worked. WW Oil & Gas plans to re-work and have on line an additional 2 oil wells per month until all remaining wells are completed and at full production.
WW Energy Inc. is a New Mexico-based holding company that was created to acquire oil and gas service companies as well as oil and gas-related assets.
WW Oil & Gas Inc., established in 2005, is in the business of acquiring leases and oil and gas-related assets. Such acquisitions are for the purposes of development, exploration, and exploitation. The company currently has exploitation projects in Texas, Utah, Oklahoma and New Mexico. Comprehensive drill programs are being developed for full exploitation of these projects.
Calls to the company, in an effort to determine the exactly location of the wells, were not immediately returned.