Kentucky

Kentucky USA Energy Inc., London, Ky., acquired from Thomasson Petroleum Enterprises Inc. the right to drill as many as 40 wells in and above the Devonian New Albany shale in Todd, Muhlenberg, and Christian counties, western Kentucky.

Aug. 25, 2009

By OGJ editors
HOUSTON, Aug. 25 – Kentucky USA Energy Inc., London, Ky., acquired from Thomasson Petroleum Enterprises Inc. the right to drill as many as 40 wells in and above the Devonian New Albany shale in Todd, Muhlenberg, and Christian counties, western Kentucky.

Kentucky USA must drill 10 wells in each year of the agreement to be eligible to drill 10 more wells the succeeding year. TPE, as lease owner, retains a 25% net revenue interest in wells drilled to the New Albany shale and 18.75% in wells drilled above the top of New Albany.