International Western Petroleum Corporation is pleased to announce its wholly owned subsidiary International Western Oil Corporation (IWO) has formed an Oil and Gas Operating company in the state of Texas.
The formation of the Oil and Gas Operator licensed in the State of Texas now allows IWO to be a legal operator reporting directly to the Railroad Commission of Texas without the need for hiring an operating company, as done with previous exploration projects.
Brian O'Connell, IWPO's Operations Manager, commented, 'The days of hiring an external operator to drill and provide the well control services for us are history now. With this new Operator License, IWO can reduce certain exploration costs and maintain better control of exploration schedules. This achievement couldn't come at a better time with us permitting four new drilling locations before November.'