Samson 25% Working Interest
Samson has a 25% working interest in a prospect area of 2,480 acres. We presently expect that a well will be drilled in July or August of 2007 to evaluate the Red River and Duperow reservoirs. The Duperow Formation is the primary target. The project has been developed on the basis of a tested oil recovery and a 3D seismic grid. This data, along with substantial well control, has established an amplitude anomaly that is consistent with oil recovery and well control. While this opportunity is considered exploratory, management nevertheless believes it to be relatively low risk due to the 3D seismic and a close well control.
The Duprow target is expected to be intersected at around 8,700 feet, with a 15 foot thick zone of porosity compared to the 1 foot of pay that was developed in an adjacent well. Management believes that the prospect has the following potentially recoverable volumes:
|
|
Minimum recoverable Bbls |
|
Maximum recoverable Bbls |
|
Nisku |
|
|
200,000 |
|
|
1,000,000 |
|
Duperow |
|
|
500,000 |
|
|
2,000,000 |
|
Red River |
|
|
1,000,000 |
|
|
2,500,000 |
|
Total |
|
|
1,700,000 |
|
|
5,500,000 |
|
|
