Lighthouse Petroleum Inc. a growth oriented energy company focusing on the exploration and production of oil and gas, today has entered into a joint venture agreement with Matmown Oil and Gas Inc., a wholly owned subsidiary of Matmown Inc. Matmown will be the operator in the joint venture relationship, and expects to workover several existing wells during the coming quarters, beginning as early as the next few weeks. This new joint venture will be managed under standard industry terms, and will relate to acreage currently held by Matmown Oil and Gas Inc., or acreage to be acquired in the future.
"Lighthouse is extremely pleased to have Matmown as a joint venture partner for its LHPT 2013 Exploration Program in the Burleson County, Texas area," commented Gerard Danos, President of Lighthouse Petroleum, who continued, "We anticipate a long relationship with Matmown Oil & Gas, Inc., guided by Mr. William Sawyer, President and CEO, who has over 35 years of diverse experience in the energy industry, including being the former President, CEO, and co-founder of Lucas Energy Inc., a company currently trading on the NYSE MKT."
Matmown, Inc. has subsidiaries in the United States and South America. The US-based subsidiary has offices in Texas and is engaged in the oil and gas exploration and production business.