Executive Committee approves signing letter of intent

March 2, 2007 --
The Executive Committee of TCU’s Board of Trustees approved signing a letter of intent to appoint Four Sevens Resources Co., Ltd. as the university’s natural gas operator.

“The next step is to complete a process of negotiating a lease that meets the university’s standards and is mutually acceptable by TCU and Four Sevens,” said Brian Gutierrez, TCU vice chancellor for finance and administration. “This includes making sure that the university is satisfied with all aspects of drilling, including safety and security before signing the lease.”

The university began assessing the feasibility of drilling for natural gas on its campus early last month. The potential revenue from drilling will help TCU continue building a national, world-class values-centered university.

In addition to the potential financial aspects of the project, the university’s students also will benefit through focused research. Engineering, geology and environmental sciences students will conduct on-site research while students from humanities and social sciences will examine the social and political impact of the Barnett Shale.