Trading on the OTC Bulletin Board, Mesa Energy Holdings, Inc. is an exploration stage oil and gas exploration and production (E&P) company. Their focus is currently on the Devonian Black (Marcellus) shales in the northern Appalachian Basin in western New York. Mesa Energy Holdings, Inc. continually evaluates opportunities in the nation’s most productive basins. The Company has their headquarters in Dallas, Texas.
Mesa Energy Holdings, Inc. works to grow reserves and net asset value per share mainly through the development of highly diversified, multi-well developmental and defined-risk exploratory drilling opportunities. The company also does this through the acquisition of solid, long-term existing projects with enhancement potential.
Recently, the Company announced that they completed $1.945 million in financing through a private placement of two year, 10 percent secured convertible promissory notes with institutional and accredited investors. The financing will enable Mesa Energy Holdings, Inc. to explore and develop their Java Field natural gas project.
Mesa Energy owns a 100 percent working interest in the Java Field, a currently producing project which includes 19 existing natural gas wells on approximately 3,235 mineral acres “held by production” (HBP). It also includes two tracts of land totaling approximately 36 acres and two pipeline systems including a 12.4-mile pipeline and gathering system that serves the existing wells, as well as a 2.5-mile system with a tap into another major public line.
Earlier this month, Mesa Energy discussed their Coal Creek Project. This is a developmental prospect targeting natural gas in the Hunton Sand, the Brent Sand, and a shallow Atoka gas reservoir present in the Arkoma Basin of eastern Oklahoma. Mesa Energy has a 78 percent net revenue interest in eight oil and gas leases covering approximately 700 acres located in Sequoyah County, Oklahoma, which make up the Coal Creek Project. A third party operates the Coal Creek Project, whom the Company has maintained a long-term relationship.
The Coal Creek Project includes two recently drilled wells. These are the Cook #1 and Gipson #1. Both wells have been successfully completed, tested, and connected to an Arkansas Oklahoma Gas Company (AOG) sales line. In addition, initial production and sales have begun from these wells.
Today, Mesa Energy Holdings, Inc. announced that they named former New York Governor George E. Pataki to the Company’s Advisory Board. Governor Pataki joins Jeffrey A. Chadwick and Arthur J. Pyron on the Advisory Board. They will work with executive management to provide subject matter expertise and strategic guidance. This will help Mesa Energy best capitalize on the development of their Java Field prospect in Wyoming County in western New York.
Let us hear your thoughts below:
