Spindletop Oil&Gas CO (SPND)

Spindletop Oil & Gas Co was organized as a Texas Corporation in September 1985. It is an oil and gas company engaged in the exploration, development and production of oil and natural gas; the rental of oilfield equipment; and through one of its subsidiaries, the gathering and marketing of natural gas. The Company has focused its oil and gas operations in Texas, and operates its properties in six states including Texas, Oklahoma, New Mexico, Louisiana, Alabama and Arkansas. The Company operates its projects through the drilling and production phases. In addition, the Company, through PPC, owns approximately 26.1 miles of pipelines located in Texas, which are used for the gathering of natural gas. These gathering lines are located in the Fort Worth Basin and are being utilized to transport the Company's natural gas as well as natural gas produced by third parties. The Company owns various interests in wells located in 15 states and the Company's operations are currently located in 6 of those states which include Alabama, Arkansas, Louisiana, Oklahoma, New Mexico and Texas. The Company has three businesses first being the segments exploration, acquisition, development and production of oil and natural gas, second segment includes gas gathering, and third segment consists commercial real estate investment. The Company is engaged in the exploration, development, acquisition and production of oil and natural gas, and the gathering and marketing of natural gas. The Company is also engaged in commercial real estate leasing through leasing office space to non-related third party tenants in the Company's corporate headquarters office building. The products marketed by the Company are crude oil and natural gas which are sold to oil and gas companies, brokers, pipelines and distributors, and oil and gas properties which are acquired and sold to oil and gas development entities.