In the Magee prospect block, in EP 82, the Magee overthrust prospect has been drilled before and flowed gas, condensate and Helium to surface from a very thin reservoir section with an astoundingly high percentage of Helium at a measured 6.3% putting the flow results in the upper 5% of naturally occurring Helium concentrations in the world known to date. New interpretations indicates a much thicker Heavitree Formation on a sub-thrust play, underneath the Magee prospect overthrust play drilled by Pacific Oil and Gas, Magee 1 in 1992. The new play may have potential to host up to 15 BCFG (billions of cubic feet) Helium in UGIIP. A recent published price for wholesale Helium in 2008 of over USD$100/MCFG
CTP Price at posting:
10.0¢ Sentiment: LT Buy Disclosure: Held
