03
  • June 8, 2022 11:30 am

“We are wrapping up the final participation positions related to our aggressive drilling efforts at the Southwest Range Prospect. The Southwest Range is defined by a 3D seismic survey and is a structural trap located against the southern flank of the Conecuh Ridge Complex. An initial well the Gilmore 29-9 had absolutely excellent initial production rates from two separate completions in the Smackover. The goal of the project is to drill an offset well in a more optimal structural position nearby to the Great Western-Edge Gilmore 29-9 (A previously very successful well) well to recover these low-risk reserves. The well is classified as a “Vertical well”, with a target depth of 13,000+ feet below the surface providing direct access to a formation known as the “Upper Smackover”. This area has a history of strong hydrocarbon yield, we anticipate initial production to exceed 380+ BOPD with well over 700,000+ BO in reserve.

Based on our strict policy of adhering to ESG Standards as well as Industry Best Practices we do not engage in Fracking of any sort and are committed to operating with the highest level of environmental sensitivity. We are thrilled about the fact that our Drilling Permits have been approved and issued. This effort is now considered shovel-ready.

CAPITAL REQUIRED: We have remaining participation positions totaling $550,000.00 required to proceed to successful completion (5 Working Interest units @ $110,000.00 per Unit), each Unit based on current Oil prices is slated to generate anywhere in the neighborhood of $10,200.00 – 12,000.00 in monthly income.”

Overview

  • Category : Producing Wells

Location

Leave a Reply

Leave a Reply