Goldking Royalty Holdings Rise Sharply

HOUSTON, April 21 /PRNewswire/ -- Goldking Energy Partners, a Goldking Energy Corp. affiliate, announced it purchased proven perpetual oil and gas royalty interests in 2700 producing wells and 900,000 acres in East, West and South Texas, Southeastern New Mexico, plus oil production in Kansas.

The purchase of interests in these royalties within almost every hydrocarbon-producing county in Texas includes a diverse portfolio of perpetual minerals and royalty interests in long-life gas units and stable oil unit production, the firm said.

The oil and gas royalty business is a major industry primarily controlled by private entities. There are approximately a dozen public royalty trusts traded on the New York Stock Exchange with a market capitalization in the billions of dollars which offer both income and growth potential, the firm said.

Leonard C. Tallerine Jr., chief executive officer of the firm, said the properties added substantially to the company's inventory of royalties and minerals. Tallerine, a 25-year veteran of the oil and gas industry, said the company was committed to build a large perpetual royalty base.

Goldking companies have been engaged in the oil and gas industry for 40 years.

Source: Goldking Energy Partners

CONTACT: Paul White for Goldking Energy Partners, +1-713-880-9108

2008-04-21 18:30:56 0341204 PRNEWSWIRE