The new leases cover Brazos Area blocks 435, 492, and 514, located in water depths of 65 feet to 80 feet. Each lease covers 5760 acres of federal waters, and carries a five-year primary term in which to establish commerciality, and a perpetual term for the life of production once production is established.
Medco owns a 100% working interest in each of the blocks, which are all subject to a 16.67%
