Osyka has signed a letter of intent to acquire the Una West Field in Victoria County, Texas, US, from Viper SWD.
The field has two working wells producing a combined 20 barrels of oil a day and eight shut-in wells.
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Osyka founder and CEO Michael Harness said that the field is very promising and the eight shut-in wells may have upside potential to produce both oil and gas.
The transaction is expected to be completed by 30 November 2010.
