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| Oil & Gas Drilling Prospects |
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PROSPECT I PROPOSED WELL DEPTH: 17,500 feet LAHEE WELL CLASSIFICATION: 3-D Wildcat TRAP TYPE: Reef Structure (stratigraphically bound) TREND FIELD(S): La Jolla Ranch (Sligo) - 32Bcf, Sharonlee (Sligo) - 26Bcf FIELD RESERVE ESTIMATE: 20-30 Bcf gas ESTIMATED INITIAL PRODUCTION RATE: 10-15 mmcfpd (unstimulated) ESTIMATED NUMBER OF WELLS: 2 wells DRY-HOLE COST: $4.5-5 Million LEASE COST: $120,000 PIPELINE ACCESS: Good sales line access PROSPECT NET REVENUE: 72% NRI PROSPECT GROSS RETURN ON INVESTMENT (ROI): 10.8 :1 PROSPECT STATUS: Requires 3-D seis purchase (previously reviewed) ACREAGE STATUS: Open (negotiating lease) GEOLOGIST CONSIDERATION: $35,000 + 3% ORRI WORKING INTEREST AVAILABLE: 100% OPERATION AVAILABLE: Yes WILCOX TREND T/A PROSPECT (Zapata Co) PROPOSED WELL DEPTH: 11,500 feet LAHEE WELL CLASSIFICATION: Development (Twin/RE old gas well) TRAP TYPE: Anticlinal Structure w/Faulting TREND FIELD(S): Alworth (Wx) FIELD RESERVE ESTIMATE: 15-20 Bcf gas ESTIMATED INITIAL PRODUCTION RATE: 10-15 mmcfpd ESTIMATED NUMBER OF WELLS: 2 wells DRY-HOLE COST: $1.5 Million LEASE COST: $300,000 PIPELINE ACCESS: Good sales line access PROSPECT NET REVENUE: 72% NRI PROSPECT GROSS RETURN ON INVESTMENT (ROI): 25 :1 PROSPECT STATUS: Requires 3-D seis purchase (previously reviewed) ACREAGE STATUS: Open (negotiating lease) GEOLOGIST CONSIDERATION: $30K + 3% ORRI WORKING INTEREST AVAILABLE: 100% OPERATION AVAILABLE: Yes DEEP QUEEN CITY GAS TREND ALVAREZ (QC) PROSPECT (Starr Co) PROPOSED WELL DEPTH: 8500 feet LAHEE WELL CLASSIFICATION: 3-D Wildcat (w/down-dip gas shows) TREND FIELD(S): Draco & Capricorn (QC) Fields TRAP TYPE: Stratigraphic on Growth Structure FIELD RESERVE ESTIMATE: 25 Bcf Gas ESTIMATED INITIAL PRODUCTION RATE: 3-5 mmcf/d ESTIMATED NUMBER OF WELLS: 5-7 wells DRY-HOLE COST: $400K LEASE COST: $150K PIPELINE ACCESS: Fair sales line access (but high pressure lines) PROSPECT NET REVENUE: 75% NRI PROSPECT GROSS RETURN ON INVESTMENT (ROI): 75:1 PROSPECT STATUS: 2-D seismically controlled (3-D will verify large closure) ACREAGE STATUS: Open (Negotiating Lease) GEOLOGIST CONSIDERATION: $30K + 3% ORRI WORKING INTEREST AVAILABLE: 100% OPERATION AVAILABLE: Yes PRESSURED YEGUA TREND JABONCILLO PROSPECT (Duval Co) PROPOSED WELL DEPTH: 7200 feet LAHEE WELL CLASSIFICATION: 2-D Wildcat (In Jaboncillo Field) TRAP TYPE: Structure - Down-to-the-coast 200 foot Fault TREND FIELD(S): Jaboncillo (Yegua) - 8 Bcf FIELD RESERVE ESTIMATE: 5-8 Bcf gas ESTIMATED INITIAL PRODUCTION RATE: 2 mmcfpd ESTIMATED NUMBER OF WELLS: 2 -3 wells DRY-HOLE COST: $500K LEASE COST: $80K PIPELINE ACCESS: Good sales line access PROSPECT NET REVENUE: 75% NRI PROSPECT GROSS RETURN ON INVESTMENT (ROI): 25:1 PROSPECT STATUS: Have all 2-D lines ACREAGE STATUS: Leased GEOLOGIST CONSIDERATION: $30K WORKING INTEREST AVAILABLE: 100% OPERATION AVAILABLE: Yes EXPANDED VICKSBURG GAS TREND PROSPECT I (Brooks Co) PROPOSED WELL DEPTH: 13,500 feet LAHEE WELL CLASSIFICATION: Deeper Pool/Extension TRAP TYPE: Growth Fault Structure w/sands thinning updip TREND FIELD(S): Lopez Ranch, Cage Ranch FIELD RESERVE ESTIMATE: 50-60 Bcf gas ESTIMATED INITIAL PRODUCTION RATE: 10-20 mmcfpd (fracture stimulated) ESTIMATED NUMBER OF WELLS: 5 wells DRY-HOLE COST: $2.5-3 Million LEASE COST: $300,000 PIPELINE ACCESS: Good sales line access PROSPECT NET REVENUE: 75% NRI PROSPECT GROSS RETURN ON INVESTMENT (ROI): 17 :1 PROSPECT STATUS: Requires 3-D seismic survey (2-D previously reviewed) ACREAGE STATUS: Open (negotiating lease) GEOLOGIST CONSIDERATION: $30,000 + 3.125% ORRI WORKING INTEREST AVAILABLE: 100% OPERATION AVAILABLE: Yes SHALLOW OIL PROGRAMS ROMA, WEST PROSPECT I (Starr Co) PROPOSED WELL DEPTH: 5000 feet LAHEE WELL CLASSIFICATION: Developmental (Twin S/I gas well w/oil pays) TRAP TYPE: Structural upthrown high on DTC Fault TREND FIELD(S): Roma Field - 300,000 bbls oil FIELD RESERVE ESTIMATE: 300,000 bbls oil + ESTIMATED INITIAL PRODUCTION RATE: 50-100 BOPD ESTIMATED NUMBER OF WELLS: 3 wells DRY-HOLE COST: $250K LEASE COST: $70K PIPELINE ACCESS: Fair PROSPECT NET REVENUE: 72.5% NRI PROSPECT GROSS RETURN ON INVESTMENT (ROI): 9.5:1 PROSPECT STATUS: 2-D seis being acquired, 3-D seis being considered ACREAGE STATUS: Drillsite under negotiation GEOLOGIST CONSIDERATION: $35,000 + 2.5% ORRI WORKING INTEREST AVAILABLE: 100% OPERATION AVAILABLE: Yes CHILTIPIN CREEK PROSPECTS (Duval Co) PROPOSED WELL DEPTH: 4500 feet LAHEE WELL CLASSIFICATION: Wildcat TRAP TYPE: Structural, fault closures on 150-200 ft DTC faults (Verified by 3-D) TREND FIELD(S): Fitzsimmons (Pettus) Field (5 MBO) FIELD RESERVE ESTIMATE: 1.5 MBO ESTIMATED INITIAL PRODUCTION RATE: 120-150 BOPD ESTIMATED NUMBER OF WELLS: 5-7 wells DRY-HOLE COST: $150K LEASE COST: $120K PIPELINE ACCESS: Good (low pressure line) PROSPECT NET REVENUE: 75% NRI PROSPECT GROSS RETURN ON INVESTMENT (ROI): 60:1 PROSPECT STATUS: 3-D seismic being acquired ACREAGE STATUS: Lease under negotiation (3-D comes w/lease) GEOLOGIST CONSIDERATION: $30,000 + 3.5% ORRI WORKING INTEREST AVAILABLE: 100% OPERATION AVAILABLE: Yes CHARCO GARCIA PROSPECT (Zapata Co) PROPOSED WELL DEPTH: 3500 feet LAHEE WELL CLASSIFICATION: 3-D Wildcat TREND FIELD(S): Roma (QC) Field TRAP TYPE: Structure - Antithetic 150 foot Fault FIELD RESERVE ESTIMATE: 5 MBO ESTIMATED INITIAL PRODUCTION RATE: 70-90 bopd ESTIMATED NUMBER OF WELLS: 20-30 wells DRY-HOLE COST: $100K LEASE COST: $250K PIPELINE ACCESS: Fair sales line access (but high pressure lines) PROSPECT NET REVENUE: 73% NRI PROSPECT GROSS RETURN ON INVESTMENT (ROI): 43:1 PROSPECT STATUS: 2-D seismically controlled (3-D will verify large closure) ACREAGE STATUS: Open (Negotiating Lease) GEOLOGIST CONSIDERATION: $25K + 2% ORRI + 3% BIAPO WORKING INTEREST AVAILABLE: 100% OPERATION AVAILABLE: Yes SHALLOW GAS PROSPECTS
PROPOSED WELL DEPTH: 6500 feet LAHEE WELL CLASSIFICATION: Developmental (Twin old gas well never produced) TRAP TYPE: Stratigraphic Sand Pinch-out on Monoclinal Structure TREND FIELD(S): 16 Bcf Look-A-Like Field (2-Wells) FIELD RESERVE ESTIMATE: 8-10 Bcf gas ESTIMATED INITIAL PRODUCTION RATE: 2-3 mmcfpd ESTIMATED NUMBER OF WELLS: 2 wells DRY-HOLE COST: $180K LEASE COST: $100K PIPELINE ACCESS: Good sales line access PROSPECT NET REVENUE: 75-72% NRI PROSPECT GROSS RETURN ON INVESTMENT (ROI): 92:1 PROSPECT STATUS: No 3-D seis required! ACREAGE STATUS: Open (negotiating lease) GEOLOGIST CONSIDERATION: $30,000 + 3% ORRI WORKING INTEREST AVAILABLE: 100% OPERATION AVAILABLE: Yes COAL BED METHANE PROGRAM ` CBM PROSPECT I PROPOSED WELL DEPTH: 2500-4000 feet LAHEE WELL CLASSIFICATION: Developmental (Twin wells zone never produced) TRAP TYPE: Stratigraphic on Monoclinal Structure TREND FIELD(S): None FIELD RESERVE ESTIMATE: 1-2 Bcf gas per well / 200-600 Bcf per field ESTIMATED INITIAL PRODUCTION RATE: 200-300 mcfpd ESTIMATED NUMBER OF WELLS: 100-200 wells DRY-HOLE COST: $250K LEASE COST: $100-200/ac PIPELINE ACCESS: Good sales line access PROSPECT NET REVENUE: 75-72% NRI PROSPECT GROSS RETURN ON INVESTMENT (ROI): 92:1 PROSPECT STATUS: No 3-D seis required! ACREAGE STATUS: Open (negotiating lease) GEOLOGIST CONSIDERATION: $50,000 + 3.125% ORRI WORKING INTEREST AVAILABLE: 100% OPERATION AVAILABLE: Yes $ WORKOVER PROJECTS $ STARR BRITE PROJECT PROPOSED WELL DEPTH: 7200 feet LAHEE WELL CLASSIFICATION: OWWO (Old well work over in unproduced zones) TRAP TYPE: Large Anticline - roll-over onto large down-to-the-coast fault TREND FIELD(S): Jaboncillo (Yegua) FIELD RESERVE ESTIMATE: 0.5-1 Bcf gas per well w/multi zones behind pipe ESTIMATED INITIAL PRODUCTION RATE: 300-500 mcfpd ESTIMATED NUMBER OF WELLS: 4 wells (2-fully equipped) DRY-HOLE COST: $70K (Workover) LEASE COST: $20,000 PIPELINE ACCESS: Good sales line access PROSPECT NET REVENUE: 75-72% NRI PROSPECT GROSS RETURN ON INVESTMENT (ROI): 22:1 PROSPECT STATUS: No 3-D seis required! ACREAGE STATUS: Lease Acquired GEOLOGIST CONSIDERATION: $30,000 + 3.125% ORRI WORKING INTEREST AVAILABLE: 75% OPERATION AVAILABLE: Yes |
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