Escopeta Oil5005 Riverway Ste. 440 , Houston, Texas, United States

Escopeta is a Houston-based oil and gas company that brings energy to Americans. We own many significant drilling leases in the Cook Inlet Basin in Alaska and in many parts of Texas.

Escopeta Oil began its own oil & gas leases in 1994 and is presently the third largest lease holder in the Cook Inlet Basin with 130,000 acres.  In late 1993, Escopeta OIl commenced a geological study of Cook Inlet Basin where there were a number of abandoned oil & gas wells that demonstrated great remaining potential. This study eventually led to the discovery of the 200 million barrel Cosmopolitan oil field in the lower Cook Inlet Basin.  Based upon this, Escopeta Oil and Stewart Petroleum purchased 6,800 acres of leases in the 1994 Alaska State Cook Inlet Basin lease sale. ARCO-Alaska bought these leases in 1997, with Escopeta and its partners retaining a royalty interest. After acquiring Arco-Alaska, ConocoPhillips drilled in 2001 and tested 1000 BOPD, under Escopeta’s original leases. These leases now represent the highest structural areas of the Cosmopolitan field structure.  Escopeta employed the same successful approach in developing its East Kitchen program and acquired 106,000 acres of leases in the water approximately 70 miles north of the Cosmopolitan field discovery. In house reserves for East Kitchen are 450 million barrels of oil and 2.5 TCF of gas. Drilling is planned at East Kitchen in March 2007. After the discovery and development drilling, oil production is expected to be 50,000 BOPD, and gas production is expected to be 92 MMCFGPD from Escopeta’s Shotgun Platform for the East Kitchen area alone The 1.3 billon barrel Kitchen prospect will be tested in the summer of 2007.