The White-tail Prospect will increase the company’s presence within the Michigan’s prolific Niagaran reef proven reef play.
AED CEO Herold Ribsskog said, "Finalizing the White-tail agreement give us much greater geographic exposure within the state and a clear course to define new well sites for development, as we look to duplicate our success with the Dansville drilling program."
The initial seismic survey data on the acreage has indicated five separate reef prospects and the company is planning to initiate 3-D resolution seismic survey to clearly define prospective well sites.
The company and its partners will define future well sites using the latest geological, geophysical, and environmental technology to minimize risk for the subsequent drilling program.
Northern Michigan Reefs are typically 50-400 acres in size, 200-700 ft deep, and are located within the oil bearing 12 -15 mile wide reef belt.
There are over 110 oil fields in the area with reserves larger than 1 million barrels, with the average size of these fields being approximately 2.4 million barrels recoverable.
