The company plans to undertake further geological and geophysical surveys to develop this Texas Reef prospect project.
The company proposes to acquire the lower cretaceous Reef prospect that had one well, which is currently plugged, drilled into the reef complex in the 1950’s.
The hydrocarbon indications in the upper portion of the reef indicate that oil stains are contained within sidewall core.
Geophysical surveys further indicate an early cretaceous shelf edge on which the reef was originally formed.
The company plans to drill on the shelf edge in the optimum ‘reef forming’ environment to maximize the potential of this prospect.
