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As of 8:10 PM 08/22/14 All times are local (Market data is delayed by at least 15 minutes).
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Company Description

Contact Info

9700 Richmond Avenue

Suite 124

Houston, TX 77042

United States

Phone: 832-242-6000

Fax:

Radiant Oil and Gas, Inc. operates as an independent oil and gas exploration and production company in the Gulf Coast region of the United States of America. Core Areas of Operation The company’s proved oil and gas reserves are concentrated in the Louisiana Gulf Coast region. As of August 1, 2013, its proved developed producing (PDP) reserves were 522.2 Mbbls (one thousand barrels of oil or other liquid hydrocarbons) of oil. The company sells substantially all of its hydrocarbon production in the St. James market and receives premium Light Louisiana Sweet (LLS) pricing. Properties Vidalia: In October 2013, the company acquired the Vidalia properties, which include various leases in Catahoula, Concordia, La Salle and St. Mary’s parishes in Louisiana and Adams, Franklin and Wilkinson counties in Mississippi. The company has an average working interest in these properties of 97.2% and an average net revenue interest of 72.4%. The acquired leases represent 105,000 gross acres (2,800 net) and approximately 80 wells. Ensminger Project: The company had a minority interest in a well (Ensminger #1) drilled on this prospect. During 2013, the company has acquired a lease for materially the same area. The Ensminger Project covers 634 acres, of which the company owns a 100.0% working interest and have a net revenue interest of 75.0%. The Ensminger Project is located onshore in sugar cane fields in St. Mary Parish, Louisiana. Coral Project: The company has a 100% working interest and a 76.0% net revenue interest in the Coral Project. The company intends to act as the operator of this project to re-enter and complete a well. Coral consists of 1,405 gross acres in shallow Louisiana state coastal waters of St. Mary Parish. Strategy The company intends to become an independent oil and gas producer by using its industry expertise and in-depth regional experience to increase reserves, production and cash flow. Main elements to its strategy include the following: focus on mature fields with existing infrastructure, exploitation and development of properties, pursue opportunistic acquisitions of underdeveloped properties, actively manage drilling program, and utilize industry and technological expertise. Regulations The company is subject to the requirements of the federal Occupational Safety and Health Act, or OSHA, and comparable state statutes. The OSHA hazard communication standard, the Emergency Planning and Community Right to Know Act and similar state statutes require that it organizes or discloses information about hazardous materials stored, used or produced in operations.

 

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