Ann: SXA Arranges Private Placement, page-7

I was surfing the net today and came across this article stating SXA was growing frustrated with the local government of Illinois.

• • Carmi companies honored at 68th annual Oil & Gas dinner

• Campbell Energy of Carmi has been named the Wildcatter of the Year during the annual meeting of the Illinois Oil and Gas Association (IOGA).

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  Photo providedGeorge N. Mitchell Drilling of Carmi was honored over the weekend at the 68th annual meeting of the Illinois Oil and Gas Association. Pictured here from left are Ryan Mitchell, Chris Mitchell and George N. Mitchell
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  By Special to The Times
  From WFIW Radio
  Posted Mar. 10, 2014 @ 5:00 pm
  
  Campbell Energy of Carmi has been named the Wildcatter of the Year during the annual meeting of the Illinois Oil and Gas Association (IOGA).
  The 68th annual trade show and convention was held last Thursday and Friday at the Old National Events Center in Evansville.
  "It was a little different this year in that the award was not given to someone for a new oil discovery," said Brad Richards, Executive Vice President of IOGA. "Campbell Energy was honored for their efforts in going into older oil fields and applying modern completion techniques to produce crude oil."
  Richards added that Campbell Energy has brought literally millions of dollars of revenue into White County through their ongoing oil production efforts.
  The Lifetime Achievement Award was presented to Chris Mitchell, president and geologist of George N. Mitchell Drilling Company of Carmi.
  Chris Mitchell started working in the oilfields as a roughneck in 1966 at the age of 13. It was his only source of income until he graduated from Southern Illinois University in Carbondale with a degree in geology.
  In 1976, George N. Mitchell passed the torch his son, Chris. Three generations of the Mitchell family now operate the business - George N. Mitchell, Chris Mitchell and Chris's son, Ryan Mitchell.
  The future of oil exploration in the Illinois Oil Basin remains bright, Richards said, noting that millions have been spent in the past few years leasing up land for oil and gas development. The only obstacle standing in the way of a full-blown oil boom, is the government, Richards said.
  "It's not for a lack of capital, it's not for a lack of equipment or even a qualified workforce," Richards said. "It's the continuing obstruction by the State of Illinois. Area oil companies have complained recently about delays in the issuance drilling permits by the Illinois Department of Natural Resources.
  Strata-X, a Denver-based oil company has threatened to pull out of the Illinois Basin if drilling permits that have already been approved by the DNR aren't issued soon. The firm has 49,000 acres under lease.
  Another Denver oil company, SM Energy has put its 30,000 acres of leased land up for sale after drilling just one exploratory well. "Producers are having problems getting permits for both conventional and horizontal wells," Richards said. "It's a never ending story of rule-making. Even though the governor signed the fracking bill into law last June, we still don't have any rules in place that would allow high-volume high-pressure hydraulic fracturing."
  A number of other awards were presented during the convention. Sherry Hutchison with Orion Petro Corporation of Mount Vernon, Ill. was named the Petroleum Professional Woman of the Year.