Evans/Chastain Enter Drilling Agreement

Southeastern Oil Review

Aug 29, 1994

S. Lavon Evans, Jr., Inc., Laurel, Miss and Chastain Petroleum Resources, Inc., Jackson, Miss., have reached an agreement, effec­tive August 1, 1994, to jointly explore and develop oil and gas reserves within the Mississippi-Alabama Salt Basin and the Ark-La-Tex trends.

Efforts will focus primarily on close-in development prospects within producing fields and acquisition of producing properties with development potential. Deeper untested formations within produc­ing fields will also be targeted.
Chastain will be responsible for all geological and geophysical explora­tion efforts and evaluation of outside prospect submittals. Evans will be responsible for land acquisition and engineering of exploration and development projects. Operations will be administered by S. Lavon Evans, Jr. Operating Co. which cur­rently operates 35 wells in six fields within the Mississippi Salt Basin. By combining resources, the com­panies' objective will be to develop and drill quality prospects and con­tinue to increase reserves.
The companies will seek to pur­chase producing properties with operations and evaluate develop­ment prospects with multiple pay potential.
Prospect submittals are being sought and should be directed to David L. Chastain, c/o Chastain Petroleum Resources, Inc., 234 E . Capitol St., Suite 314, Jackson, Miss. 39201, phone (601) 969-0669.
Other parties involved in the ex­ploration and development efforts include Greer Bros. Exploration, Jackson,. Miss.