Altex Industries, Inc. is a holding company. The Company, through its operating subsidiary, Altex Oil Corporation (AOC), owns interests in onshore oil and gas properties, has bought and sold producing oil and gas properties. The Company has also participated in the drilling of exploratory and development wells and in recompletions of existing wells. All of AOC's interests are in properties operated by other companies. The operators of producing properties in which AOC has an interest sell produced oil and gas to refiners, pipeline operators and processing plants. The Company's estimated reserves are approximately 1,100 barrels of proved, developed oil reserves in the Glo Field in Campbell County, Wyoming.
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