Las Vegas, NV -- (SBWIRE) -- 02/08/2013 -- Worthington Energy Inc (PINK:WGAS) declared its agreement with Montecito Offshore, Louisiana. Worthington Energy reported that they will be having 70 percent working interest and net revenue of 51.9 percent in area of 547 acre at Vermilion 179, located at shallow water of the Mexico gulf offshore.
Worthington Energy Inc management is optimistic and stated that they have already received letter of commitment for the loan of $8.5 million from Ventana Group.
The company has plan that once the funds are transferred the company will dedicate the credit for the development of Vermillion 179 lease, drilling and production cost of wells and other financial commitments of the company.
Worthington Energy Inc is based in San Francisco and is contributing in the energy sector. The company is operating in development, exploration, leasing and acquisition of oil and gas properties.
To find out what OTCMAGIC projects for Worthington Energy Inc for both short term and long term please click here:WGAS
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