HOUSTON – Brenham Oil & Gas Corp. (OTCBB:BRHM) has accepted a letter of award for a 15% interest in four offshore exploration blocks from the government of Equatorial Guinea.
“These four blocks are in between and along geologic trend with a large producing oil and gas field complex with peak production of more than 80,000 barrels of oil per day and an undeveloped oil discovery,” said Rog Hardy, VP. “The blocks awarded to Brenham total more than 500,000 acres. We are very excited about the exploration potential of these blocks.”
“The next step will be for the consortium of winning companies to finalize the commercial terms with the government in a production sharing contract,” said Scott Gaille, president.
Brenham is a subsidiary of American International Industries Inc. (OTC:AMIN).