South Texas Oil Company (STXX.OB) is Developing Domestic Resources
South Texas Oil Company is an Austin-based company that acquires, explores for, and develops domestic oil and natural gas properties. Formerly known as Nutek Oil, Inc., the company changed their name in 2005. Founded in 1998, they process their oil and sell it to Equiva, a division of Shell Oil. Trading on the OTCBB, South Texas Oil is part of the Oil and Gas Drilling and Exploration industry. Their current market capitalization is $44.17M. They have an interest in 176 wells. They own 91 well properties and related equipment in Texas. The company's sales for 2007 were $5,692,900. They have…