Oilexco signed an Sale & Purchase Agreement in June 2008 to acquire 100% of the Caledonia oil field down to 10,500 feet in Block 16/26.  We are targeting additional oil reserves in the Paleocene Forties zone by drilling a 3 leg well in the North, West and Central lobes of the field.

The Caledonia field began production in 2003 and has produced approximately 6 million barrels of 33° API oil from a single horizontal well.