William A Sawyer, President of West Texas Resources, Inc. (Pink Sheets: WTXR) called in to SmallCapVoice.com, to describe his Company, their business model, management, markets they operate in and much more. Recently, the company announced the execution of a letter of intent to acquire oil and gas properties from an independent oil and gas company in Bakersfield, California. The acquisition, mostly oil properties, is located in Kern County, California. WTXR will be paying approximately $4 million in cash and stock for what is estimated to be $50 million in proved reserved as determined by an accredited oil and gas engineering firm. These are producing properties. West Texas Resources, Inc. is engaged in the business of oil and gas exploration and development in North America. The Company’s strategy is to pursue strategic acquisitions of interests in oil and gas properties in partnership with oil and gas producers, including prospects with proven and unproven reserves, which it believes to have development potential. The Company targets both new and existing fields and producing wells to be revitalized.
This interview may include forward looking statements. These forward-looking statements generally are identified by the words “believe,” “project,” “estimate,” “become,” “plan,” “will,” and similar expressions. These forward-looking statements involve known and unknown risks as well as uncertainties, including those discussed in the following cautionary statements and elsewhere in this release. Although the Company believes that its expectations are based on reasonable assumptions, the actual results that the Company may achieve may differ materially from any forward-looking statements, which reflect the opinions of the management of the Company only as of the date hereof.