RE: Does anyone know how long the drilling of the13 Jun 2021 23:06
I understand its 15 - 25 days to drill and another 3 weeks completion? We've already set casing at 6,437ft so might be quicker.
Drills/news:
Williston Basin, North Dakota:
The Iverson 11-14HU - currently producing.
· The S-Bar 11-7HU and 11-7TFHU wells, - undergoing completion - production due end of July,
· The Feehan 11-9HU and 11-9TFHU wells - undergoing completion - production due end of July,
Spacing unit ("DSU") operated by Continental Resources :
-2x wells currently being drilled
A total of 22 wells additional wells by 2023 (slightly more than 1 per month) which we may participate in (probably depending upon the results of the initial wells)
Paradox, Utah, U.S:
Undergoing permitting, detailed drill planning and vendor selection related to the drilling of the State 16-2 CC LN
-on track to drill the well in July 2021
In addition to drilling preparations, the detailed resource evaluation work remains ongoing, both in regard to the potential in overlying reservoirs above the Cane Creek reservoir, and in respect to the potential for a resource play development across the Company's Paradox leasehold. Zephyr continues to work with its partners at the University of Utah, the Utah Geological Survey and third-party consulting firms to develop an updated geological model and resource estimates. The Company will update Shareholders when this evaluation work is complete.
On a project-wide 2C basis, the Cane Creek reservoir on the Company's acreage (which includes the State 16-2LN CC) is estimated by Zephyr to hold:
o Net recoverable resources of over 12mmboe; and
o Net present value of approximately US$156 million using a flat oil price of US$60 per barrel of oil and a ten percent discount rate.
· The above estimates only include forecast resources in the Cane Creek reservoir and do not include the significant potential upside from additional overlying reservoirs which are being evaluated following the drilling of the State 16-2 well
- the US Geologic Survey estimates a basin-wide, mean potential 1.2 billion barrels of oil equivalent in the Cane Creek reservoir alone*, indicating a substantial potential yet to be targeted. Further prospectively also exists in other overlying reservoirs from which we secured data, and these additional reservoirs also appear to hold the presence of hydrocarbons.
Publicly cross-traded on the OTCQB market in the United States - August 2021
Carbon neutral September 2021
Federal tax free cashflows up to US$16 million
So much news to look forward to...