SOURCE: Chalker Energy Partners II, LP

January 30, 2007 10:00 ET

Tempo Resources, Ltd. Acquires North Texas Gas Properties

HOUSTON, TX -- (MARKET WIRE) -- January 30, 2007 -- Tempo Resources, Ltd., a privately held limited partnership owned by Chalker Energy Partners II, LP, Adron Temple, Jr. and Nelson Oliver, today announced its recent acquisition of natural gas properties from Engas Corporation and Chalker Energy Partners II, LP.

The properties, located in the shallow Strawn and Conglomerate gas trends of North Texas, consist of producing and undeveloped leasehold in Palo Pinto, Parker, Archer and Jack Counties, Texas. Current net production totals approximately 1 Mmcfe per day from 40 producing wells and net proved reserves are estimated at approximately 5.6 Bcfe. The properties include approximately 50 additional drilling locations and 40 re-completion opportunities on approximately 10,000 net acres. The properties are 100% operated.

Tempo Resources, Ltd. has opened an office in Mineral Wells, Texas and plans to aggressively exploit the current asset base and grow the company through acquisitions, additional prospect development and drilling. Tempo Resources GP, LLC will be the operator of record. For additional information, please contact Nelson Oliver, Vice-President of Land and Business Development for Tempo Resources at (940) 325-8770.

About Chalker Energy Partners II, LP

Chalker Energy Partners II, LP is an oil and natural gas acquisition, exploitation, development and production company headquartered in Houston, Texas. Chalker Energy Partners is a privately held portfolio company of Quantum Energy Partners. To learn more about Chalker Energy Partners, please visit www.chalkerenergy.com.

About Quantum Energy Partners

Founded in 1998, Quantum is an investment firm specializing in the energy industry with over $3.2 billion in capital under management, of which $2.0 billion is in its family of private equity funds and $1.2 billion is in its direct property acquisition fund, Quantum Resources. Quantum primarily targets investments in the oil & gas sector, while also considering opportunities in the midstream, oil field service, coal, power, and alternative energy sectors. To learn more about partnering with Quantum Energy Partners, please contact either S. Wil VanLoh, Jr. or Alan L. Smith at (713) 225-4800 or visit Quantum's website at www.quantumep.com.

Contact Information

  • Contact:
    Doug Krenek
    (713)586-6663