Oct 1, 2018 — Have a very interesting prospect in Tenn about 110 miles West of Nashville.
The target is the famous Trenton Limestone..The prospect has a show well that was
drilled in 1990 to 3005 Ft and had oil produced to the surface. The well was logged and showed pay in the Trenton and the Black River from about 900 Ft to 1500 Ft.
This prospect has similar characteristics to the famous " Lima Field " discovered in 1886 in NW Ohio.. In 1886 the Lima Field in Ohio was the top producing oil field in the USA.. and started NYSE Marathon Oil
This was even before the giants of Spindletop (Gulf Coast) and the Santa Rita # 1 (Permian) were discovered.
There is also another analog field in Southern Michigan called the Albion/Scipio field discovered in 1957 that produced 130MM Barrels.What is so incredible about this prospect is the shallow depth of 1200 Ft with this kind of huge potential reserves and virgin pressure for a very low barrier to entry.
Some the highlights of this prospect are:
1. Show well on the lease drilled in 1990 to 3005 Ft. that showed oil on the surface with logged pay.
2. 11 Miles of 2D seismic,associated surficial geochemistry and source rock data.Also new chemostratigraphy recently acquired. 2357 Acres of Leasehold in Place covering the structure.
[ external link ] Geological Team that has extensive experience in locating and developing Trenton Limestone plays in the Midwest.
4. Low leasehold costs and shallow targets of less than 1500 Ft make for excellent economics.
5. Terms - Prospect Generator requires a 2000 Ft test well drilled on the 2357 Acres of leasehold in certain time frame.( Estimated $120,000)
2357 Acres of leasehold will be delivered at a 80% Net Revenue Interest at $95.00 an per NMA will be delivered to the buyer( $95.00 x 2357 Acres = $223,915 Leasehold Cost).
Geologists,engineers& geophysicists are likely available on a consulting basis for assisting with data processing,interpretation& well site supervision.
6. Total Estimated Cost for a test well and acreage is $443,915. The upside here is huge. At 25,000,000 Barrels at $70 a barrel with an 80% NRI = 1.4 Billion Dollars - 3000 to 1 Potential
7. The IPs of the analog fields have averaged 200 Barrels a day. If we hit a similar well it would payout our drilling in acreage costs in about 40 days.
This could be one of the last great 100 MM + barrel fields in the USA less than 1500 Feet..
This 'moon shot" deal could be a company maker or life changer for an exploration company or industry player.A phone meeting and site visit is available for interested parties.Please call or e mail me for additional information on this "once in a lifetime" deal.
WILDCAT OIL EXPLORATION IS HIGH RISK AND CAN RESULT IN 100% LOSS OF CAPITAL.PROSPECT IS SUITABLE FOR OIL AND GAS OPERATORS OR INDUSTRY PLAYERS THAT UNDERSTAND THE RISKS OF WILDCAT EXPLORATION.
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