Blugrass Energy, a junior oil and gas company located in Lexington, Kentucky, is positioning itself to capitalize on the domestic oil market through partnerships and land leases in the Appalachian and Illinois Basins.

The company, through joint venture partners and current acquisition opportunities can capture 100 BCF of natural gas reserves, along with several leases for crude oil reserve that can produce 10 million BOE.

Cumulatively, the Appalachian and Illinois Basins, which together span ten eastern states, have produced more than 50 TCF of natural gas. With more than a century of production, equal or greater quantities are still waiting to be tapped. Current estimates of remaining technically recoverable resources (including proved reserves) are in the range of 79 to 96 TCF.

Other active stocks are Exxon Mobil (NYSE: XOM), Clayton Williams Energy (NASDAQ: CWEI) and Chevron (NYSE: CVX).

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