Brazos International Exploration, Inc. Acquisition Almost Completed
March 10 2011 - 8:00AM
Business Wire
BRAZOS INTERNATIONAL EXPLORATION, INC. (OTCBB: BRZL), today
announced the company has executed a Definitive Purchase and Sale
Agreement to purchase Renfro Energy, LLC, a Dallas based
independent oil company with significant oil and gas assets in
Cameron Parish, Louisiana.
Closing is scheduled to occur on or before March 31, 2011, and
shortly thereafter, an aggressive production enhancement and
developmental drilling program will be initiated. With this
acquisition, BRZL will acquire an oil producing property with
potential development and exploration oil reserves exceeding one
million barrels based on subsurface well control and Three
Dimensional Seismic data.
Mr. James R. Renfro, currently Managing Member of Renfro Energy
and slated to act as CEO of BRZL once the acquisition is complete,
is enthusiastic about the company’s future. He states that if
significant oil production and reserves are proven, access to the
capital markets and third party financing sources will enable BRZL
to create significant asset growth through exploitation,
development, exploration, and acquisition.
Mr. Renfro has over 25 years’ experience in the oil and gas
industry, has owned and managed several oil and gas companies
including both private and public companies. Through his MBA
from The University of Chicago and Engineering degree from the
University of Kentucky, Mr. Renfro has worked for companies such as
Exxon Company USA, Dean Witter Morgan Stanley, Shell Oil, and EnCap
Investments. His blend of Wall Street and engineering experience
has prepared him well to assume leadership of BRZL.
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