Gulftex Operating, Inc. 3030 LBJ Freeway Suite 1320 LB#47 Dallas,
Texas 75243 - 972-243-2613
Frenchtown #2-H Update
Gulftex Operating, Inc. today is announcing that the we are drilling
past the 8000’ depth on our way to a total measured depth of
approximately 12,000’. We are right in the middle of the curve that
will take us to the lateral section. We are experiencing a lot of
gas shows both with trip gas and connection gas. We are still on
schedule to complete the drilling phase by the end of the year.
Footnote: Our industry partner in this well, XTO is in the process
of being bought out by Exxon-Mobil, which will make them our new industry partner. This should
certainly increase our visibility in the Barnett Shale.
ABOUT GULFTEX OPERATING, INC.
In 1996 Gulftex Operating, Inc. became a contract operator to TBX
Resources, Inc. with over 100 operating wells in East Texas and
Louisiana. Today Gulftex Operating, Inc. has a successful
exploration, drilling and production track record participating in
over 35 wells in the Barnett Shale. The Gulftex record includes an
impressive 20 wells in the core area of the Barnett Shale. Tim
Burroughs, President of Gulftex Operating, Inc., has spent the last
14 years building Gulftex Operating, Inc. Top energy companies
including XTO Energy, Crusader Energy, Devon Energy, Conoco
Phillips, Encana and others have partnered with Gulftex Operating,
Inc. on numerous Barnett Shale projects.
The Gulftex Operating, Inc. has a primary focus on the development
of conventional and unconventional resource plays which includes the
application of horizontal drilling and cutting edge completion
technology aimed at developing shale and tight sand reservoirs. The
Gulftex assets are located in various domestic basins, the majority
of which are in the Ft. Worth Basin, Barnett Shale.
For other information regarding Gulftex Operating, Inc., please
visit the Company's Internet Web site at