Saratoga Resources, Inc. (“The Company”) that all of its producing properties and facilities are intact and capable of full production following Hurricane Ike.
Following an assessment by air and sea of all its coastal Louisiana properties following Hurricane Ike including Breton Sound 32, Breton Sound 18, Breton Sound 51, Crooked Bayou, Grand Bay, Lake Fortuna, Main Pass 46 and Main Pass 52 fields in Plaquemines Parish, and Vermillion 16 field in Vermillion Parish, Saratoga reports all facilities and infrastructure suffered minor damage from the hurricane. All facilities are currently capable of sustaining full production. However, due to damage to third party processing and pipeline facilities some production has been temporarily shut-in. The Company expects to resume full production within the next 7-10 days.
Management Comments
Mr. Thomas F. Cooke, Chairman and CEO of Saratoga Resources said, “Our hearts go out to all who suffered personal losses as a result of this hurricane. This is the third major hurricane, including Katrina that has directly impacted our assets in the Gulf of Mexico and our team has performed with flying colors each time to quickly bring production capacity back on line without exception. We expect no long-term impact on the Companies performance as a result of Hurricane Ike.”
About Saratoga Resources
Saratoga Resources, Inc. is an independent exploration and production company headquartered in Austin, Texas with offices in Covington, Louisiana and Houston, Texas. The company engages in the acquisition and development of oil and gas producing properties which allow the company to grow through low-risk development and risk-managed exploration. The company currently operates properties in Texas and Louisiana with principal holdings covering approximately 30,000 net acres in 12 fields located in state waters offshore Louisiana which contain, as of January 1, 2008, 67.3 bcfe (billion cubic feet equivalent) of proved reserves currently producing (for July 2008), net to the company, approximately 1,550 barrels of oil per day and 4,800 mcf (thousand cubic feet) of natural gas per day.
Contact:
Saratoga Resources, Inc.
Brad Holmes, Investor Relations
713-654-4009
or
Thomas Cooke, CEO
512-478-5717
www.saratogaresources.net
Source: Saratoga Resources, Inc.
Following an assessment by air and sea of all its coastal Louisiana properties following Hurricane Ike including Breton Sound 32, Breton Sound 18, Breton Sound 51, Crooked Bayou, Grand Bay, Lake Fortuna, Main Pass 46 and Main Pass 52 fields in Plaquemines Parish, and Vermillion 16 field in Vermillion Parish, Saratoga reports all facilities and infrastructure suffered minor damage from the hurricane. All facilities are currently capable of sustaining full production. However, due to damage to third party processing and pipeline facilities some production has been temporarily shut-in. The Company expects to resume full production within the next 7-10 days.
Management Comments
Mr. Thomas F. Cooke, Chairman and CEO of Saratoga Resources said, “Our hearts go out to all who suffered personal losses as a result of this hurricane. This is the third major hurricane, including Katrina that has directly impacted our assets in the Gulf of Mexico and our team has performed with flying colors each time to quickly bring production capacity back on line without exception. We expect no long-term impact on the Companies performance as a result of Hurricane Ike.”
About Saratoga Resources
Saratoga Resources, Inc. is an independent exploration and production company headquartered in Austin, Texas with offices in Covington, Louisiana and Houston, Texas. The company engages in the acquisition and development of oil and gas producing properties which allow the company to grow through low-risk development and risk-managed exploration. The company currently operates properties in Texas and Louisiana with principal holdings covering approximately 30,000 net acres in 12 fields located in state waters offshore Louisiana which contain, as of January 1, 2008, 67.3 bcfe (billion cubic feet equivalent) of proved reserves currently producing (for July 2008), net to the company, approximately 1,550 barrels of oil per day and 4,800 mcf (thousand cubic feet) of natural gas per day.
Contact:
Saratoga Resources, Inc.
Brad Holmes, Investor Relations
713-654-4009
or
Thomas Cooke, CEO
512-478-5717
www.saratogaresources.net
Source: Saratoga Resources, Inc.
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