The Wilson Lease, acquired in 2004, spans 250 acres in Nueces County on the southeastern coast of Texas. The lease has a $2.3 million PV10 and the future net cash flow for this state-lease property is expected to be $4.2 million.
The information includes forward-looking statements, which are subject to known and unknown risks and uncertainties that could cause actual results to differ materially. We refer you to the discussion of risk factors that could affect future operating or financial performance in our most recent prospectus and Form 10-K and other SEC Filings. ECCO Energy assumes no obligation to update any forward-looking statements made here as a result of new information or future events or developments. You will find a reconciliation of any non-GAAP financial measure, as defined by the SEC in Regulation G, to the most directly comparable GAAP number in Reconciliation of Non-GAAP Financial Measures. Information about Barney Skipper was found in The Last Oil Boom by James A. Clark and Michel T. Halbouty. Additional information about the Lathrop 1 drilling site was found on the Texas Historical Commission Web site.
