500+ BCF exploration target with 3 uphole bailout zones that are productive in the area; test is a conventional vertical play successful in the region.
Opportunity to participate with an operator to test a very large deep structure analogous to the largest gas field in Oklahoma. If the exploratory test is unsuccessful, there are 3 shallow formations that are all productive in the area to complete and return the investment. Operator has a very significant lease position and a local drilling contractor with deep vertical well experience ready to drill in exchange for an equity interest in the project. Seeking to raise $10 million with non-op partners to spud the initial test well. Location is near an interstate pipeline that delivers gas to the LNG facilities on the Louisiana Gulf Coast. Opportunity to build out a midstream gathering system on the project acreage as well.
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