Is a Development and Exploration Company Is Cash positive North Stockyard Field providing ongoing cash flow Has Projects under development Secondary and / or Tertiary Oil Recovery techniques required which is standard for retrieving >80% oil discovered
SOA 11 Oil discovered. Oil is Light Sweet Crude ( WTI ) of higher quality Obviously no flow on its own, not totally unexpected. Requires frac and then production - probably not unusual for this area/reservoir pressures. More inconvenient as more time/effort and money for frac required 24 other locations identified Appraisal SOA 11 now indicates additional vertical wells may have to be predominately fracced
DEFENDER Oil discovered Designed bottom hole pressure calculated to assist recovery of reservoir liquids has been successfully achieved by Jet Pump Well bore not cleaned for 7 months which may be impeding flow This process is currently being undertaken and the well will be re-pumped
AUS 11 Oil discovered Comparable to other wells in Eastern Montana Bakken oil play despite poorly fracced well
GRETEL 11 Water inundated maybe secondary to geology related to Brockton Fault and Bakken traps At least 2/3 of Roosevelt Project prospective. 1/3 to be further evaluated with consultation and ?engineering solutions to water contamination Brockton Fault impact unknown
I'm buying.
cheers netstockings
SSN Price at posting:
5.0¢ Sentiment: LT Buy Disclosure: Held
