Bayou City Exploration and Petro Resources Corp. Announce a Joint Participation Agreement
Posted on: Thursday, 14 July 2005, 15:00 CDT
Bayou City Exploration Inc. (OTCBB:BYCX) and Petro Resources Corp. (OTCBB:PRCT) announce that they have entered into a joint participation agreement. The companies contemplate jointly participating in drilling, lease acquisition, and reserve acquisition opportunities. The agreement will provide the companies with an increased number of opportunities and an ability to diversify their capital budgets.
About Bayou City Exploration:
Bayou City Exploration Inc. is an independent oil and gas exploration and production company with its principal properties located onshore Texas and Louisiana.
About Petro Resources Corp.:
Petro Resources Corp. is an independent exploration and production company focused on domestic oil and gas drilling and production located primarily in the offshore U.S. Gulf of Mexico, onshore Texas and Louisiana, and the Rocky Mountains.
Forward-Looking Statements:
Certain statements in this news release regarding future expectations and plans may be regarded as "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. They are subject to various risks, such as operating hazards, drilling risks, and other uncertainties inherent in the business of exploring for, developing and producing oil and gas which may be beyond Bayou City Exploration Inc.'s control. For a discussion of the contingencies and uncertainties affecting future events and forward-looking statements, see Bayou City Exploration's most recent Annual Report on Form 10-KSB, as well as other filings with the Securities and Exchange Commission. There can be no assurance that Bayou City Exploration will be successful in meeting its expectations.
Source: Business Wire
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