OK, now I'M getting very excited.
ASN is in an amazing position to capitalize on a Paradox Basin oil boom.
Just been reading up on the Zephyr energy website, below is a copy and paste from what stood out to me, I suggest that holders look them up and have a full read of there exploration and oil production plans in the Paradox Basin, and it appears that ASN could be sitting on some of the best under explored misunderstood ground for oil production.
If development of the overall project through the utilisation of hydraulic stimulation proves successful, the Company estimates the potential for a wider development with up to 200 potential well locations across the project, with a range of risked net recoverable contingent resources of up to 143 million barrels of oil equivalent (“mmboe” from both the Cane Creek reservoir and eight overlying reservoirs. • An additional 12,260 acres of Paradox Basin acreage was acquired during the period (with potential resources not yet included in Zephyr’s internal estimates).
So they are saying 143 million barrels just for the ground they held before acquiring more ground.
Maybe a deal could be done with Zephyr energy, where they pay for the drilling of new wells, including the production wells, and Anson gets a share of the revenue from oil sales.
What ever can or may happen, there is certainly potential for a joint venture, funding or some kind of deal to be made with someone.
From what I'm reading, it appears that previous explorers misunderstood the geology for oil potential due to salts, quite interesting I must say.
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