Assets

Bootleg Canyon (Ellenberger) Field

  • Three wells in production as of April 2013
  • One Proven Undeveloped Well available for future drilling
  • Formation focus is the Ellenburger and Connell
  • Over 5,000 acres of lease available for additional drilling
  • Estimated Ultimate Recovery (EUR) of 187,240 barrels of oil equivalent per well
  • Expected payback of drilling capital in 1.5 years with continued production for nearly 15 years
  • Located in Pecos County, Texas

Prospect Background

Acquired in 2011, this 5,000+ acre lease is located in Pecos County, Texas. There are now two producingPecos County  Ellenberger oil wells and one producing Connell gas well on this 3D seismic-controlled property. The gas well (University 7 #1) spud on December 23, 2012 and went into completion on March 6th 2013. A third-party SEC reservoir report allocates a gross EUR for each Ellenberger oil well at 187,240 BO (100% oil). Gross reserves for the gas well are 471,130 Mcf.

The acreage held currently provides 160 acre spacing between wells and thus an opportunity to drill additional wells on the prospect acreage. It’s estimated there may be ten total well locations on the property. The Company through its interest in Aurora, holds a 5 percent working interest and a 3.75 percent net revenue interest.

Our references to estimated ultimate recovery or “EUR” in on this web site refers to the estimated unrisked adjusted reserves for a well from proved, probable and possible categories of reserves.