Fortune Petroleum Buys Into Texas Gas Field

Fortune Petroleum Corp. announced that it will acquire a 50% leasehold in the Brooklyn Union La Rosa natural gas field in Refugio County, Tex. Fortune will pay $750,000 for the lease from its $10-million line of credit extended by Bank One in Texas.

Agoura Hills-based Fortune is an independent oil and gas exploration and production company. The company’s principal properties are located in Texas and California. Fortune is in the midst of a multiyear plan to acquire natural gas producing properties.