The group's principal activities are to explore and develop oil and gas properties. In addition to exploration and development of new properties, the group redevelops producing oil and gas fields. The group focuses its exploration efforts on its holdings in Texas. It has leasehold interests in the corsicana field, located in south central Texas. The corsicana field is comprised of 875 existing wells on 67 leases, of which the group has a leasehold interest of approximately 8,000 acres in the underground minerals. Of these wells, there were only 215 active wells as of Sept 30, 2003. Of the 215 active wells, not all are regularly producing wells. The group also redevelops existing fields in and around corsicana, Texas and other areas of the region where fields have been partially depleted by conventional production methods, but where significant, proven reserves of oil and gas still remain.
