Superior to Divest Oklahoma Wells Interest

Superior Oil and Gas has entered into a letter of intent with the Weiss Family Trust of Monsey, New York to sell its working interest in two recently drilled Oklahoma wells for $3 million.

Dan Lloyd, president of Superior, said: “We anticipate the execution of a definitive agreement with the Weiss Family Trust to purchase half of our working interest in two wells we have recently drilled that are in the final stages of completion.

“These wells are identified as Windy Vista 1 and the Lonesome River 1, located in Garfield County and Blaine County, respectively. This will also provide the Weiss Family Trust with a right of first refusal to participate with Superior, for a 50% interest of Superior’s working interest, in all offset wells that might be drilled.”