CALGARY, ALBERTA -- (Marketwired) -- 09/08/14 -- Momentus Energy Corp
Momentus, through its subsidiary Momentus Energy LLC (the "Company"), has completed the acquisition and processing of approximately 20 square miles of 3D seismic on the Roosevelt Block in Montana. This seismic program was completed for approximately $1.3 million, slightly under the budget of $1.4 million.
The seismic data is very encouraging and is expected to achieve its primary objective of reducing drilling risks on the first wells by improving the geosteering capability in the horizontal section of the Bakken formation and locating the wells away from structural complexities.
The seismic data also identified multiple potential drilling targets in the Nisku and Red River formations.
The Company has committed to drilling its first Roosevelt Block Bakken well and proposed a drilling location to its partners.
The drilling of this well, expected to be spudded by mid-November, will complete the Company's earning obligations on the Roosevelt Block, thereby earning the company a 50% working interest and operatorship of the Roosevelt Block, which is approximately 43,600 contiguous acres in Roosevelt County in Northeastern Montana.
