Texas Energy Group, LLC (TEG) is pleased to announce that the Cleveland Six Project, which was put on line back in October 2007, is on target to yield approximate 21% cash on cash return annually to its Investors.
Nearing its sixth year of production, TEG’s internal calculations for the Cleveland Six Project shows monthly returns (ROIs) in excess of 1.8% monthly or 21.6% annualized,” stated Waylan Johnson, President of Texas Energy Group, LLC.
This project is similar to many in the area that have shown a strong longevity with a potential of 20-30 years of production because of the water drive reservoir the oil is coming from. Mr. Johnson stated,“We have 6-7 additional prospects in this area that will fill our drilling budget and allow our partners to continue to take advantage of this field for the next 2-3 years. We are appreciative of the opportunity to be drilling in the Gulf Coast, which we consider our own backyard.”
For further information regarding topics discussed in this article please contact Texas Energy Group, LLC directly via their Investor Relations Department; (877) 893-6749 or visit them on the web at TexasEnergyGroup.com.
Disclaimer: This release/announcement/document is neither an advertisement, an offer to sell, nor a solicitation of an offer to buy securities, Units or participations of Texas Energy Group, LLC (TEG). This release/document contains certain statements, estimates, and forecasts with respect to future performance and events. All statements other than statements of historical fact included in this release/announcement/document, a Memorandum, or the TEG website, including, but not limited to, statements regarding future performance of events, are forward-looking statements. All such forward-looking statements are based on various underlying assumptions and expectations and are subject to risks and uncertainties which could cause actual events to differ materially from those expressed in the forward-looking statements. As a result, there can be no assurance that the forward-looking statements included in this release/document, a Memorandum, or the TEG Website will prove to be accurate or correct. In light of these risks, uncertainties and assumptions, the future performance or events described in the forward-looking statements in this release/document, a Memorandum, or the TEG Website might not occur. Accordingly, investors should not rely upon forward-looking statements or historical performance as a prediction or indicator of actual or future results. Also, Texas Energy Group, LLC., its officers, principals, employees, agents, subsidiaries, affiliates and consultants, and the other parties, investors, and partners involved in any properties, programs and TEG activities have conflicts of interests. The price received for the oil and natural gas produced from any investments, activities, properties may be less than quoted NYMEX prices at any given times. TEG does not undertake any obligation to update any forward-looking statements, facts or other information, whether as a result of new information, future events, subsequent circumstances or otherwise. Information herein is not intended to be any form of solicitation. Information found on this page is neither an offer to buy or sell securities or other investments.