A top-to-bottom company reorganization 90-percent completed following the death of its founder, Superior Oil and Gas Co. re-enters the oil and gas exploration and development business in Oklahoma at a most propitious moment. Recently drilled and completed horizontal wells in north central Oklahoma by industry leaders are flowing oil and natural gas at rates not seen in years. Geologists predict blanket production across more than 20 contiguous Oklahoma counties at moderate depths. The price of oil and gas leases in the play have leaped from $100 an acre to $1,200 an acre and are still climbing. Superior owns oil and gas leases on more than 7,000 acres in the heart of this area. Recapitalization of the company is under way. Led by a new chief executive officer, Dan Lloyd, Jr., the son of Superior's founder, and by a group of well-seasoned officers, directors and consultants, Superior will commence new drilling as early as late July or early August 2011 and is currently operating its existing wells.