HOUSTON--(BUSINESS WIRE)--NAC (National Aten Coin), creator of the Aten Black Gold Coin digital virtual currency, today provided an update from the managing venture partner, Tahoe Oil and Gas of Houston, Texas, on the drilling of their Johnson 1 well in the South Sugar Valley Prospect in Matagorda County, Texas.
“The work on the Johnson 1 well has begun and its completion is expected next month,” said Tahoe’s Managing Director Jerrell Clay. “The drilling of the second well, Taylor 1, will occur immediately following the logging of the Johnson 1 well.”
This is NAC’s second oil and gas well investment. The company’s first oil and gas well investment is in The Eureka Prospect, which is located in Iberville Parish, Louisiana. The drilling of the Eureka well will commence in early December 2014.
Tahoe plans to distribute proceeds from these oil and gas projects in Aten Black Gold Coin virtual currency, as well as U.S. dollars. For those unfamiliar with virtual currencies, Aten Black Gold Coin is a recent entry into the explosive market of electronic money. The current largest distributor of cryptocurrency is Bitcoin, which was introduced to the market in 2009.
NAC has entered investment discussions with other oil and gas exploration & production companies that operate in Texas, Louisiana, Kansas and Oklahoma.
“As I’ve stated before, we believe now is the right time to focus on the strong U.S. energy markets and NAC anticipates continued investments in oil and gas prospects for many years to come,” NAC’s Managing Member, Richard Gray said.
About NATIONAL ATEN COIN
NAC is the creator of the Aten Black Gold Coin, which is a form of money (virtual and electronic) that uses cryptography (techniques used to secure communications) to control and manage its currency. NAC uses Anti Money Laundering (AML) control systems to manage customer identities and recordkeeping requirements. Additionally, NAC’s Proof-of-Stake v2 method secures peer-to-peer cryptocurrency (electronic cash system) transactions by verifying their coin holders’ ownership.
NATIONAL ATEN COIN is located in Las Vegas, Nevada, U.S.A. For more information visit: http://AtenCoin.com.