Assets

Morgan Prospect

  • One well is completed and producing both oil and gas
  • Formation is Sprayberry-Dean-Wolfcamp-Strawn formations
  • 80 acre prospect
  • Located in Martin County, Texas

Prospect Background

In November 2012, the Company, through its partnership with Aurora Energy Partners acquired a 3% working interest and a 2.25% net revenue interest in 80 gross acres known as the MorganMartin county Property.  This property is located in the Permian Basin Wolfberry Play.  The first well, Morgan #1 was spud in December 2012 and reached total depth (10,616 feet) in January 2013.  The Morgan #1 was fracture stimulated and completed in March 2013.  The well is currently producing both oil and gas.

The acreage held currently provides 40 acre spacing and thus an opportunity to drill a second vertical well on the prospect acreage. 

Aurora holds a 3 percent working interest and a 2.25 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.