The prospect acreage is situated entirely within Harrison County, within the prolific East Texas Oil Field. Harrison County became part of the East Texas Oil Field boom with the discovery of oil in 1928. The East Texas Oil Field is the second largest oil field in the United States, junior only to Alaska. The vast East Texas Oil Field has produced over 5.2 billion barrels of oil since its discovery. Harrison County produced over 90 million of those barrels of oil. Oil producing target formations within Harrison County exist at varying depths, including shallow sandstone formations around 2,400’ and deep shale formations around 13,000’ in depth.

The primary productive geologic unit is the Cretaceous-age Woodbine Formation, a regional petroleum-bearing unit discovered in the early part of the 20th century. The reservoir sandstone was deposited when a shallow sea covered East Texas about 100 million years ago. Over time, the region uplifted, eroded, and was again covered by the sea. A new layer of impermeable chalk was deposited over the reservoir formations, creating a stratigraphic trap – trapped oil migrates upwards, reaches a point where it can move no farther, and being lighter, pools on top of water within the reservoir. The source rock for East Texas oil production is the underlying Eagle Ford Shale.

Rangeford Resources maintains the largest single external partnership holding within the prospect area. An aggressive reworking and infield development plan will enhance existing production and initially add 12-15 new wells targeting limestone formations within the prospect area.

The prospect interest area controls over 4,400 acres of mineral leases near the town of Waskom, Texas, located just west of Shreveport, Louisiana. Acquisition of an additional 7,600 acres adjacent to the current holdings is underway. The acreage currently under lease already possesses shallow legacy oil wells yielding daily oil production. In addition, the overall prospect acreage includes more than 200 identified potential new commercial drilling locations.

The historic production of 90 million barrels of oil within Harrison County occurred during a time when the price of oil per barrel was very low. Current prices of oil combined with advances in technology make historic fields like East Texas attractive for multiple reasons. Existing wells present opportunities to apply modern reworking technologies to enhance production. Infield drilling can be completed with tools and techniques not in existence during the first years of the East Texas boom. Infield drilling has many advantages, but the primary benefit is knowledge that oil already exists beneath the area where the new wells will be drilled.

The new well locations currently being drilled are part of a comprehensive development plan for the prospect holdings in the area, with Rangeford Resources maintaining the largest single external working partnership holding.