HOUSTON, TX — (Marketwire) — 08/12/11 — (PINKSHEETS: PGIE) through its joint venture with as operator, has acquired a proven producing oil & gas asset. The field is located in Haskell County, Texas, and covers five leases with 11 production wells, 2 injection wells, pumper jacks, tanks, separators, tubing, rods and well equipment. PGI Energy owns 40% of the project which was purchased for an undisclosed amount of money. PGI will receive 40% of the Net 75% NRI from the monthly production. Specific details of the field will be posted to our company website.
is an energy holding company, headquartered in Houston, Texas. The company-s purpose is to acquire assets in the proven producing oil, gas assets, refinery, pipeline sectors of the energy industry and other synergistic assets.
PGI has formed several partnerships to grow its core business organically through strategic alliances diversifying its interest in green energy through biomass production, waste to energy, wood pellets production, syn gas, bio char production and plastics to synthetic crude. PGI has several core divisions which provide support to its operations and customers such as
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Contact Media & Investor Relations Contact: 832-900-1400 PGI Energy, Inc. Jose I. Colon
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