Oak Man., I too would like some updates if you can provide the information. I will quote parts of two different news releases from the past ... would apreciate any comments or updates you can give, especially with regard to the timing as each quote had forecast approximate dates.
From Nov 22, 1996
The company and its joint venture partners have awarded a contract to Geco-Prakla, a subsidiary of Schlumberger, for a 50 square mile, $1,100,000 3D seismic survey in Richmond county, Montana. The3D seismic will cover 15 prospects which have already been identified by the reprocessing of 2D seismic and it is expected that the 3D will identify several new features. The joint venture controls approximately 38,691 gross acres. 23,691 gross acres are within the survey area. The additional 15,000 gross acres cover 12 prospects in the adjacent townships. The 3D seismic work should be completed by January 1997. Initial drilling should commence in the first quarter of 1997.
Has the 3D seismic been completed? Were any new drill prospects identified? Has the drilling begun, and if not, when?
From Oct 28, 1996
A 50 sq mile 3D seismic survey is planned to be run in November 1996, on the northern section of the Williston Basin joint venture leaseholds. The area to be surveyed will total over 18,000 gross acres. Allowing four months to shoot, process and interpret the data, drilling could start by February 1997. The 3D seismic survey is expected to confirm 20 structural mounds, as well as turn up more mounds that could not be seen on the 2D data. It is expected that the result will be 20 to 30 drillable Red River features, which might equate 25 to 50 wells. With a projected 90% success rate and average reserves of 300,000 barrels of oil per well, this could prove up reserves of 6,750,000 to 13,500,000 barrels of oil. As the 3D seismic survey is interpreted it is expected additional acreage will be acquired.
Was the 3D seismic run as scheduled? Did you get the confirmations you expected? Did you find any new drill targets as expected? Has drilling begun, and if not, when? Has there been any additional acreage acquired as expected?
Thanks for any clarifying information you can provide!
Richard Dunhill |
