San Saba Royalties

That Comstock well, the Circle M Allocation 1H, is probably a Haynesville well, as the TVD is 15,978 feet. It’s produced 2.7 BCF of gas in its first 92 days of production.

It appears that Comstock has made a huge bet on Bossier/Haynesville in Robertson, Leon, and Freestone Counties via leasing and acquisitions. Their recent press release indicated they had acquired 60,000 net acres via acquisitions in that area, plus they have leased more than 8,000 gross acres in Robertson County. A leasing entity named Surprise Valley Resources has leased about 50,000 gross acres in Leon, and I think it is quite likely that they are leasing for Comstock. If they are, then Comstock controls almost 120,000 acres in the three counties.

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