Whichever funding option is chosen, the sharing arrangement will be attractive to all parties. 12,000 acre lease, 11,000' Hemlock formation, Drill by summer. 8830 acres on the Southern end of the Kenai Peninsula. The Prospect, a fault-bounded anticline eight miles long and two miles wide based on seimic. Proven multiple sands elsewhere in the bsin gives the prospect potential recoverable reserves of 30-60 MMBO and 200 BCFG at depth rangino 5,000' to 11,000'.
Gas pipelines surround and go through the area.
One well has over 250' of section which has been perforated but not stimulated. The reserves in this prospect are in excess of 1 mmbbl per well. The prospect is the updip pinchout of a 130' porous Gatchell sandstone. This sand represents the updip shelf edge of a feeder system that carried sand west into the Cantua Gorge system. Downdip well has good oil and gas shows.