Hadro Resources acquires three Oklahoma producing firms

Hadro Resources Inc., Point Roberts, Wash., has agreed to acquire three Oklahoma companies from owner US Oil & Gas Resources Inc., Vancouver, for 10 million shares. They are Oakhills Energy Inc., Thor Energy Inc., and O.J. Oil & Gas Inc.

May 31, 2001

By the OGJ Online

HOUSTON, May 31 -- Hadro Resources Inc., Point Roberts, Wash., has agreed to acquire three Oklahoma companies from owner US Oil & Gas Resources Inc., Vancouver, for 10 million shares.

Oakhills Energy Inc., Thor Energy Inc., and O.J. Oil & Gas Inc. together own interests in 3,000 acres of oil and gas leases and 14 gas and 35 oil wells at various levels of production.

Hadro predicts current production worth $400,000/year could be increased to $800,000-$1 million/year in a short period of time with the investment of $250,000.

That money would be used to rework, maintain, and reopen shut-in wells that have become economic due to higher oil and gas prices.

The three companies also own interests in an existing coalbed methane gas project covering 880 acres that requires the drilling of 11 wells and reworking of 11 wells.