The mineral rights and lease prospect is over 35,000 acres or approximately 58 square miles in size.
The company said that serial transect mapping, together with its gravity survey and sub-surface well investigations were implemented. The commercial aeromagnetic surveys and seismic data delineate a large-relief structural closure with several culminations that extend for a distance of 18 miles north and south and could yield billions of barrels of oil equivalent.
The company added that based on these considerations, the prospect offers a better chance of success with high resource potential than a large percentage of the frontier-area types of plays throughout the Great Basin to include lower risk and a high reserve potential.
