By OGJ editors
HOUSTON, Oct. 3 -- Blackwood Ventures LLC of Delaware paid $5.017 million to acquire all of the shares held by Walter G. Mize in United Heritage Corp., Midland, Tex.
Blackwood, having obtained majority voting rights, plans to actively manage United Heritage. Mize will continue as a director.
United Heritage holds four leases totaling 10,500 acres in Wardlaw field, Edwards County, Tex. The acreage has produced oil, and a pilot project is to be completed in the first quarter of 2008.
Earlier engineering estimates gave the acreage 168 million bbl of oil in place and suggested it might contain deep gas potential.
