Our first acquisition consisted of 10 square miles of 3-D
seismic data, in Victoria County, Texas, for the exploration
and development of the Frio and Miocene formations.
Through
subsurface mapping and 3-D seismic our geo science professionals
identified five prospects.
We are
pleased to announce the successful drilling and completion
of the first four prospects. The 100% success rate is a tribute
to the many oil and gas professionals working on the project.
The information gained form theses successful wells will be
utilized in the further interpretation of the data and for
the
We have
acquired controlling interest in an established oil/gas field
in a state of severe decline. Through log analysis, subsurface
geological mapping and superior engineering skills we were
able to re-establish production in the field with the discovery
of a new productive sand. We were presented with an un-solicited
offer and subsequently sold the field.
We have
acquired 70 square miles of 3-D seismic data in a historically
prolific trend in South Texas for exploitation drilling of
the shallow pay sands and to verify potential deeper objective
with the potential for significant reserves.
We are
pleased to announce the addition of Dr Barbara Radovich to
our organization. Dr. Radovich has an impeccable track record
for finding hydrocarbons and is recognized by industry as
a world class geophysicist. Dr Radovich will head up our seismic
and science department.
Dr. Radovich
reports the preliminary review of the above mentioned 70 square
miles of 3-D seismic indicates favorable conditions are occurring
for the potential trapping of hydrocarbons.
We are
pleased to announce that Mr. Rich Purtell has joined our organization.
While employed by ARCO Mr. Purtell was responsible for exploration
from the concept of an exploration idea to the drill bit where
he would turn the project over to operations. Mr. Purtell
was transferred to Vastar upon its conception.
Dr. Radovich
has identified several features with the potential reserves
of 100 BCFG, we are waiting on lease availability and financing.
We have
entered into negotiations for the acquisition of approximately
680 square miles of offshore 3-D seismic data
We have
acquired 3-D seismic data and a 654 acre lease in Lavaca County,
Texas for the further development of the Frio and Miocene
trend along the Texas Gulf Coast.
We have
successfully re-worked and placed into production the previously
abandoned No. 5 well on the Lavaca 654 acre lease.
Through
3-D seismic interpretation we have selected the first location
to drill on the 654 acre lease in Lavaca County.
Our first
drilling location is the No. 10 well which we drilled and
placed into production in early July, 2007 the well encountered
multiple pay zones and is estimated to produce 1BCF
We acquired
an additional 320 acre lease in Lavaca County and drilled
the No 1 Discovery Well in late November 2007. The No. 1 well
is expected to commence production in January 2008 upon completing
pipeline installation and connections. The drilling of two
additional wells is required to drain the 500 +/- acre reservoir.
Interpretation
of our Offshore 3-D seismic has identifies an area with the
potential to recover over .5TCF, we seeking financial partner
for offshore leasing, both state and fed waters.
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