Reserve Petroleum Company (RSRV)

Reserve Petroleum Co was organized under the laws of the State of Delaware in 1931. The Company is engaged mainly in managing its owned mineral properties and the exploration for and the development of oil and natural gas properties in in Texas, Oklahoma, Kansas, Arkansas and South Dakota. It owns non-producing mineral interests in 256,364 gross acres equivalent to 88,445 net acres. These mineral interests are located in nine different states in the north and south central United States. It develops exploratory drilling prospects by identification of an area of interest, development of geological and geophysical information and purchase of leaseholds in the area. The Company had two customers; Redland Resources, Inc., and Luff Exploration Company. The operation of the various producing properties, in which the Company has an interest, is subject to federal, state, and local provisions regulating discharge of materials into the environment, the storage of oil and gas products, and the contamination of subsurface formations.