Tekoil and Gas Company History

Tekoil & Gas Corporation is a fully-reporting, publicly-held Delaware corporation that trades on the NASDAQ Over-the-Counter Bulletin Board (OTC:BB).  Tekoil & Gas Corporation was originally incorporated in Florida in 2004, until becoming a publicly traded Delaware Corporation by way of reverse merger with Pexcon, Inc, in July 2005.  The company has been fully reporting public company since September 2006, and moved from the Pink Sheets to the NASDAQ OTC:BB in July 2007.

The company's first acquisition took place on May 11, 2007, when it acquired four properties in Galveston Bay Texas, consisting of Trinity Bay, Redfish Reef, Fishers Reef, and North Point Bolivar.  The acreage position is approximately 20,000 total acres, with total proved, probable and possible reserves estimated to be 16.5 MMboe (million barrels of oil equivalent), as defined by the closing reserve report as per Society of Petroleum Engineers (SPE) standards. The company has also engaged in an exploration activity in western Newfoundland, which began with an exploration license application requested in October 2005.  Since that time the company has established a strong presence in the Province and was awarded an exploration license in September 2007, over the Port au Port peninsular.  The company also executed a farmin agreement with Newfoundland & Labrador based Ptarmigan Resources in January 2007, and began drilling it's first well known as Glori-E67 in offshore block EL-1069 in January 2008.

Growth strategy for the future

The Company’s overall goal is to maximize company and shareholder/investor value through profitable growth by acquiring oil and gas reserves and production with a firm philosophy of utilizing the latest, state-of-the-art oil and gas technology in all drilling operations.  The company's vision is to build a foundation of reserves and revenue in a politically stable environment, and with that as a foundation, to engage in exploration activities that offer exciting upside potential.

Tekoil’s current and ongoing strategy is to:

  • acquire producing oil and gas properties with significant upside potential at favorable prices
  • focus on exploration and development activities to maximize production and ultimate reserve recovery on existing properties
  • explore undeveloped properties
  • maintain a low cost structure
  • maintain financial flexibility

Stock Info

Stock Price: $0.00
Volume: 0
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Production Stats

Well Status

  • Producing
  • Shut In

Daily Production

  • Oil
  • Gas