HOUSTON, July 17, 2014 /PRNewswire/ — Caprock Oil, Inc. (OTC: ROKO.OB) has announced that it has entered into a participation agreement with private Houston based Rio Bravo Energy Partners, LLC to acquire a 20 percent working interest in a proposed gas development project in the Goldman Field in Edwards County, Texas. Caprock acquired its working interest from Rio Bravo by the issuance of 120,000 shares of its restricted Common Stock, and by agreeing to assume the obligation for 20% of the costs of drilling an initial well which is expected to commence late in the third quarter of 2014.

The Goldman Field project is a potential gas resource play involving the fracking of very tight, multiple sand reservoirs with up to 800 feet of net pay in three Holman sands. The Holman formation has been drilled and produced by other operators in the past with marginal results. In the initial well to be drilled by the Rio Bravo consortium, the operator will employ an air drilling technique and use a CO2 foam frack that will be pumped at higher pressures and flow rates than has been attempted in the past.

In commenting on the Goldman Field project, Steven Mikel, President & Chief Executive Officer of Caprock, stated, “We are delighted to align Caprock with an experienced and innovative operator such as Rio Bravo in pursuing this exciting new approach to a high potential gas resource play. If our initial drilling is successful, we anticipate that there will be multiple additional drilling locations. The Goldman Field project is just one of a number of such new opportunities that Caprock expects to roll out in the coming months.”

About Caprock Oil, Inc.

Caprock Oil, Inc. is an energy holding company headquartered in Houston, Texas. Caprock is focused on growing its onshore oil and natural gas exploration and production activities through a balanced risk management strategy that includes acquisitions, exploitation and exploration. The company’s properties are located in onshore Texas, Louisiana and Alabama.

Contact:

Caprock Oil, Inc.
D. Hughes Watler, Jr., CFO
713-479-7050
hwatler@caprockoil.com
www.caprockoil.com

Media Contact:

Pamela A. Schied
713-416-4410
pam@thinkforesight.com

Statements contained in this press release with respect to the future are forward-looking statements. These statements reflect management’s reasonable judgment with respect to future events. Forward-looking statements involve risks and uncertainties. Actual results could differ materially from those anticipated as a result of various factors, including cyclical or other downturns in demand, significant pricing competition, unanticipated additions to industry capacity, and the timing and number of additional acquisitions made by Caprock. Forward-looking statements are based on currently available information, and we assume no obligation to update any such statements. Please refer to Caprock’s annual report on Form 10-K for the year ended December 31, 2013 filed with the Securities and Exchange Commission.

SOURCE Caprock Oil, Inc.