The Catapult is a coming & recent discoveries/production/cash...

The Catapult is a coming & recent discoveries/production/cash should hold TEX around the 10c mark with not too much downside.....as long as POO doesn't completely fall away....


Vermilion Parish, Louisiana
Catapult Prospect (Target Energy 15% working interest)

Located approximately 50 kilometres south west of Lafayette in Vermilion Parish, Louisiana, Catapult has the potential to hold up to 204 Bcf (Billion cubic feet) of recoverable gas with up to 10 million recoverable barrels of condensate (oil).

Catapult is considered to be a high risk/high-reward play that, in the event of a discovery, has genuine “company-maker” potential for Target. Drilling at the Catapult prospect is scheduled for early third quarter of this year.

Target will earn a 15% working interest in the Catapult prospect. The well is planned to be drilled to a depth of 4,724 metres to test three Early Miocene-age Alliance (Planulina) and Trahan sands. The prospect is thoroughly mapped on 3D seismic, well integrated with the local geology and is adjacent to two recently drilled wells that tested with combined rates of 40 million cubic feet of gas per day and 2,300 barrels of condensate per day.

In addition, there is also good follow up potential in two separate prospects that together may hold up to a further 157 Bcf of recoverable gas and 8 million barrels of condensate.