Capitalizing on the name of Texas Governor and 2012 Presidential Candidate, Rick Perry, Lighthouse Petroleum, Inc announced on monday a potential acquisition of mineral rights belonging to Home Creek Energy of Texas. The letter of intent signed by Lighthouse Petroleum states the acquisition of 260 acres of oil and gas mineral rights in Haskell County, Texas. The mineral rights are indicated as being the Perry and Perry A leases, most notably from the family of Rick Perry.
The Home Creek Energy Hendrick Ranch Lease and Perry Lease are showing to consist of a number of oil and gas plays including the Cook Sands play, Swastika play, cross cut play, Hardy B sand play, Patio play, Palo Pinto play, Mississippian play, Caddo Reef play, Ellenberger Limestone play from depths 1200 feet to 4500 feet.
We wrote earlier about Home Creek Energy when Standard Oil Company had plans to buy the company and when PGI Energy partnered with Home Creek to develop its Reames Lease in Haskell County.
This announcement comes at an interesting time when Oil continues hover in the $100+ dollar a barrel mark and when Rick Perry is running for office. In terms of a press release, it seems like the Perry name alone could help drive some interest into this acquisition. We will keep our eyes and ears open for additional updates.
What are your thoughts?
About Wayne Max
Recent Comments