Thu, 11 Dec 2008|
Automatically Generated Transcript (may not be 100% accurate)
On slide seven just preview of Matagorda birdied we have for -- -- prospects identified from 120 square mile three -- server. The target formation is -- real formation prospective sands will be the -- X Melbourne and -- -- serious sections. We operate and have work and interest from anywhere from twenty to 40%. Slide number eight just a little bit of what's going on the Matagorda bay near term development plan. We have to exploratory wells one was the one point seven number one well two -- -- wells which were exploit proved reserves. Explicit mention earlier we drove -- one point seven number one well we drove listed to hurt things. Completion procedures are under way and I guess sales -- is permitted ready to go. After we do one point seven number one -- -- in the Hercules rig go over to do the side tracked 150 number one well which is. Going for up dip proved reserves in the -- mixing -- section. Real quick -- Giddings field or beyond slide nine. We have 47 wells producing about -- 212 barrels of oil equivalent -- -- on about 161000 net acres. We operate -- percent of those assets. Several these wells are stripper wells from which we initially identified two new -- to be through a lot of those for wells in the Giddings area. This is a conventional redevelopment play formerly in the Austin chalk the and Georgetown formations. Basically the Giddings stretch -- -- it's of carbon deployed to fractured carbon deployed. That just displays them slight -- We have vote on slide eleven shows a continuous block of 8200 acres and what -- called -- period. And on this block we have nine wells candidates from world war zone levels that were evaluating at this present time. The other asset we have one on the next slide is or bigfoot field -- a lower risk develop -- It's shallow -- play with targets in the almost formation which is the cretaceous sand. We have 73 wells producing -- -- -- wolf today on 3300 net acres. We've gone in their track to the stripper wells war -- the -- came was making about I have several days after we've wrecked the thing. It's been make content the liberals of the -- so we were we've identified twenty additional will work right now the go -- refractive technicals wells. -- Next assets is on slide. Number thirteen. Sort of -- -- your overview of the DJ basin. We have a 37 and a half percent non off working interest in about 9000 net acres. There's four wells producing about net of -- girls walk over for dying. And we're presently doing a complete geological valuation of what that whole feels looks like. -- -- notice on slide fourteen are a purchase all contiguous acreage it's a nice bought put together. And again. Slight shifting just illustration target sands of the PGA which is that the ended today in the different members of the day the different members of the -- -- -- -- We have assembled a high quality very -- management thing. We've put together -- board. With. With possesses by Boeing guests' experience on the board. And just report for an investment highlights on slide -- team. Our management team has approved track record increase in creating -- developing on gas projects. The company is the first -- base with a high level of operational control. Our assets base our assets provide a solid balance -- low risk development wells and high reward expiration potential. And looking for the continued -- possesses. We thank you for your time.