"The Northern flank of the Dome has produced an estimated 760 MBO from sands above 5,000 feet.
Allen Dome
The Allen Dome area is considered to be significantly underexplored compared to similar salt domes in south-east Texas, with the last serious exploration and development activities undertaken there in the 1980s.
Salt Dome fields are the most prolific producers in south-east Texas, with more than 2.5 billion barrels of oil produced since their discovery in the early 1920s. These Salt Dome areas have been the subject to a major increase in exploration activity in recent years, with the use of modern exploration and production technology successful in commercialising previously unrecovered oil pools.
Allen Dome is considered to be similar geologically to other successful Salt Domes in the area. One nearby field is estimated to have 12.4 million barrels at the 1P level and 52.4 million barrels at the 2P level. "
GEV Price at posting:
13.0¢ Sentiment: Buy Disclosure: Held
