The Corelabs report showed an estimated natural gas reserve of nearly 19 trillion cubic feet. When taking into consideration a recovery factor of 25%, the volume of gas available for production might be estimated at 4.75 trillion cubic feet, If fully developed and produced.
Dewitt Tract Company Establishment: September 2007 AREF Energy shareholding: 100%
Dewitt Tract owns 50% share in a 20 year oil and gas drilling and production concession in 75,000 acres of land in DeWitt County of Texas, USA. All seismic and geological surveys have been completed and drilling has started in late December 2007. Initial exploration activities in the area indicated significant reserve volume of oil and gas that would be fully exploited to generate viable returns to shareholders.
Competitive Advantage In order to fully capitalize on the reserves potential, Dewitt Tract has commissioned a world renowned company to conduct drilling and production operations.
Future Prospect Dewitt Tract is expected to produce significant volumes of gas based on estimated reserve base. According to prevailing and expected oil and gas prices, Dewitt Tract will achieve high returns within a short period of time. Surrounding land plots are operated by major oil companies and are producing gas and condensate.
ADI Price at posting:
12.0¢ Sentiment: Buy Disclosure: Held
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