HOUSTON, TEXAS (September 2005) - Quintana Capital Group, L.P. today announced that Quintana Energy Partners, L.P. and its affiliated partnerships (collectively, "Quintana") joined with Adventure Exploration, L.P. and other unaffiliated co-investors in a plan to assemble acreage and test an exploration prospect (“XL Prospect” or the “Prospect”) in the Permian Basin of West Texas.
Adventure Exploration, L.P. (“Adventure”) developed the Prospect as an analogy to the Wolfcamp play currently being exploited by several independent E&P companies in Upton County, Texas approximately 120 miles south of the XL Prospect. Initially, during early 2005, Mr. Don Evans of The Don Evans Group, LTD. introduced the idea to search for a northern extension of the southern development to Adventure. Adventure’s team consists mainly of ex-Tom Brown, Inc. professionals who worked with Mr. Evans during his tenure with Tom Brown, Inc. Quintana will have a working interest in the acreage and the group intends to build an inventory of greater than 20,000 acres. Once secure, XL Prospect will attract an experienced operator to carry forth a three to five well drilling program to test the play.
“Paul Lucas and Pete Dressier of Adventure are quality people, and we hope XL turns into an oil resource play in an area where we would be out front and have running room,” stated Don Evans, Principal of Quintana. “Below the Sprayberry, the Wolfcamp is a thick, oil-bearing section that has proven an attractive play in certain areas of the Permian Basin. There are a several analogies in north, but it is still very much an exploration prospect,” said Brock Morris, Managing Director of Quintana.
Certain statements in this press release include statements that may constitute "forward-looking" statements, usually containing the words"believe," "estimate," "project," "expect," "plan," "should" or similar expressions. These statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995.Forward-looking statements inherently involve risks and uncertainties that could cause actual results to differ materially from the forward-looking statements.
Contact for Quintana Capital Group, L.P.: Loren Soetenga Chief Operating Officer (713) 751-7527
