Odyssey owns a ninety five percent working interest in the Verba Field located in Jasper County, east central Mississippi, not far from Laurel, a thriving oil service center. The Verba Field is ideally situated within 50 miles of the Company’s core operations at Puckett, Mississippi.

According to production records maintained by the Mississippi Oil & Gas Board, up to December 2003, the Verba Field produced over two million barrels of oil from fifteen to twenty producing wells located on eight formations. Odyssey purchased this field over a year ago and to date it has been averaging $80,000 to $100,000 in gross revenue per month.

The Verba Field consists of 12 wells, including seven which are presently fully equipped oil wells producing a combined 3,600 – 4,400 barrels per month, and six orphan wells which have the potential to be re-worked for more production. The interests also include two operational salt water disposal wells and mineral leasehold rights to the majority of the known productive limits of the Field extending over approximately 1,500 gross acres to all depths.

The company recently re-entered three orphan wells using new sophisticated cased hole evaluation logs and found considerable undrained reserves. These wells are now in the process of being brought into production.

With the purchase of the Verba Field, the Company now owns a majority interest in three oil fields in Mississippi, all of which have existing production in addition to many developmental opportunities.

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