Well we finished up nicely today and the strong survived plus we increased our holdings. One point of interest which I hope to have a nice DD write up on soon is the Arcon oil fields. Arcon Energy has a joint venture partnership in 16 Oil wells in the Michigan Basin. The following is a list of the wells associated with the development acreage potential: 50 - 60 million barrels recoverable of the 80 - 100 million barrels of by passed oil.
1.) Holton Field ............. 670 Acres .... Muskegon County ............ 95,919 Barrels
2.) Muskegon Field ........ 229 Acres .... Muskegon County .............. 8,095 Barrels
3.) Wise Field .............. 1040 Acres ..... Isabelle County ........... 4,284,320 Barrels
4.) Stoney Lake Field ..... 100 Acres ..... Oceana County ........... 7,604,154 Barrels
5.) Benona Field ........... 1040 Acres ..... Oceana County ................. 5,951 Barrels
6.) Pentwater Field ....... 2233 Acres ..... Mason County ............ 6,880,848 Barrels
7.) Hardy Dam Field ...... 960 Acres ..... Mecosta County .......... 1,363,089 Barrels
8.) Porter Field ........... 12744 Acres ..... Midland County ....... 50,720,212 Barrels
9.) Bard Field ................. 520 Acres ..... Gladwin County ............ 601,086 Barrels
10.) N. Buckeye Field ...... 810 Acres ..... Gladwin County ....... 20,909,734 Barrels
11.) Beaverton Field ........ 760 Acres ..... Gladwin County ............ 904,832 Barrels
12.) E. Buckeye Field ....... 569 Acres .... Gladwin County .......... 2,142,042 Barrels
13.) Standish Field ........... 800 Acres .... Areniac County .............. 148,521 Barrels
14.) Deep River Field ....... 696 Acres ..... Areniac County ........ 27,281,203 Barrels
15.) Farwell Field ............. 480 Acres ..... Clarke County ........... 2,305,121 Barrels
16.) Saginav Field .............. 67 Acres ..... Saginaw County ........ 3,381,946 Barrels
Note: The barrel figures are Cumulation as of March 1, 1997
Again there is a lot about this stock that people just do not realize.
Happy Trading
GB |
