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APOG's bargain fields

AMERICAN Patriot Oil & Gas did a spot of bargain shopping and picked up a doozy: two producing Texas oil fields for US$430,000 (A$536,000) from the Bankruptcy Court of Houston under Chapter 11.

APOG's bargain fields

The asset contains 300,000 barrels of proven oil and gas 1P reserves.  It is estimated to generate US$11 million revenue with a PV10 value of $3 million.    Lost Lake and Goose Creek will assure...

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