It should also be noted that those figures are just specific to the first 3 planned wells and that according to the company overall the Napoleonville Salt Dome has the potential to contain:
520 bcf of gas; and
4.5 mmbo.
This is from over 60 prospects which have been identified from the 3D seismic survey.
They have also farmed out a 15% interest to Golden Gate Petroleum (GGP) who will pay 23% of costs to earn a 15% working interest with an entry fee of US$300,000 (paid) in the first three prospects.
Cheers
SBC
$8mil market cap - 1.2mmbo , page-2
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