After re-opening 10 existing wells in mid-December, Energy Revenue America, Inc. has signed a contract to transport natural gas for a third party via their 65 mile pipeline. Energy Revenue America is drilling for natural gas in the Cherokee Basin in Oklahoma which is located in the Mid-Continent region in southern Kansas, northern Oklahoma, and western Missouri. Over the next five years Energy Revenue America expects to drill in excess of 300 wells in the Cherokee Basin.

For every well completed, the reserve value for future gas from the wells becomes a value to ERA as future income. ERA estimates that gas reserves at the end of second year will exceed $80 million and at the end of third year over $150 million.