What's not to like about this? And how good is that Florence Field right next door??
“Three lines of 2D seismic were shot over one of the best anomalies found using the satellite imaging and surface geochemistry. The results from the 2D seismic data were very encouraging and showed two anomalous areas that indicate the presence of natural fractures. Each one of those anomalous areas cover approximately 200 acres and drilling targets can be identified on each one of those anomalies,” said Dr Hart. Ms Ola Akrad, Austin’s VP for Engineering and Technology, said that the exploration technique employed by Austin Exploration would help develop the Pierre and Niobrara formations. “We believe this 3-pronged approach to drill site selection is a prudent way to enhance production recovery,” Ms Akrad said. Mr Juan Carlos Carratu, VP for Austin’s Colorado Business Unit said that Austin Exploration’s acreage sits directly adjacent to the prolific Florence oil field. “These early results confirm the significant, and largely untapped, potential we see for oil and gas development in this field,” Mr Carratu said.
Now for Halcon!! All good so far.
AKK Price at posting:
1.2¢ Sentiment: Buy Disclosure: Held
