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Nevtah Capital Management (NTAH)

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Last Post: 5/19/2019 2:28:27 PM - Followers: 38 - Board type: Free - Posts Today: 0


4400 PGA Boulevard, Suite 900
Palm Beach Gardens, Florida, U.S.A. 33410
Telephone: (561) 626-9901

Email: info@nevtahoilsands.com


Daniel P. Kesonen
Chairman & CEO
Nevtah Capital Management Corp.

Mr. Kesonen has been the Chairman and Chief Executive Officer of Nevtah Capital since 1995. He is also the current Managing Director of RLK Investment Group, an international investment and venture capital corporation with offices in Florida and Zurich , Switzerland . He is the Chairman and CEO of Pegasus Pharmaceuticals Inc., a medical devices company trading on the OTC Exchange (Symbol: PGUZ) Mr. Kesonen is the President of Wyn Developments Inc., a resource company trading on the Toronto Venture Exchange. (Symbol: WL.V) He was also President of PLC Systems Inc., a medical laser company trading on the AMEX Exchange.

In the past, Mr. Kesonen has been Vice President of several investment companies including Shearson Lehman Brothers, E.F. Hutton and A.G. Edwards & Sons. He has an extensive network of contacts in Europe, United States and Canada within the institutional investment community. His background in the institutional investment banking industry will aid greatly in the course of developing the Company's strategic platform, its infrastructure, its financial resources and its marketing strategies.

Laurence Jones,
Director, Nevtah Capital Management

Mr. Jones brings to the Company a wealth of experience in the international commodities markets.  He is currently a Commodities Consultant for Chiltern Group Services PLC, an accounting and business advisement firm based in London, England.  In 1978, he established Barclays Metals (Barclays Capital & Barclays Bank PLC) and expanded the business to become a Ring Dealing Member of the LME in 1980.  He reported directly to a Main Director of the Bank of England and assisted with the sale of the company as Johnson Matthey Commodities to Deak International.  Mr. Jones continued to build the global presence of Deak International by establishing trading offices in New York, Hong Kong and the acquisition of two refineries in Australasia.  He was elected to the Board of London Metal Exchange in 1995.  He was also a Senior Director of Johnson Matthey Commodities and a Senior Manager of Ametalco Trading Limited (AMAX Inc.).

Mr. Jones is a former member of various committees of the London Metal Exchange including Chairman of the Warrant Automated Delivery System and Member of the Warehousing Committee and a Member of the Governance Committee.




Location & Access:

The Whiterocks Deposit lies on the northern flank of the Uinta Basin, 27 miles north of Roosevelt, Duchesne County, and 30 miles northwest of Vernal, Uinta County. The deposit is located near the mouth of Whiterocks Canyon and is directly northwest of the Littlewater Hills Deposit. The Whiterocks Deposit is in sections 17-19, T.2N., R1E and Section 24, T2N., R1W. (USM), Uintah County, and covers an area of about 400 acres. The deposit is found on the USGS Ice Cave Peak, 7.5 minute quadrangle. Access to the deposit is via various county roads, either west from Vernal or north from Roosevelt toward the town of White Rocks. From White Rocks, there is a graded road which parallels the east side of Whiterocks River, crossing the deposit.

Physiography & Land Use:

The deposit is found within the marginal benches subsection of the Uinta Mountains physiographic province. Bitumen-saturated sandstone crops out on the east and west sides of Whiterocks Canyon and is probably continuous beneath valley alluvium. The main part off the deposit lies at an elevation of 7,200 feet. The valley area is mostly private land surrounded on three sides by the Ashley National Forest. To the south lies the Uinta and Ouray Reservations. The Whiterocks River has eroded through the deposit, forming a flood-plain as wide as 3,500 feet. The Whiterocks River is a major tributary to the Duchesne and Green Rivers. The bitumen-saturated and other formations form steep cliffs at the mouth of Whiterocks Canyon. The west wall rises about 300 feet and the east wall rises about 500 feet above the valley. (Petersen, 1985)

Geologic Setting:

Exposed strata consists primarily of steep, southeast-dipping Triassic and Jurassic rocks. (See figure # 58.) At the mouth of Whiterocks Canyon, the Wasatch Formation (Paleocene-Eocene) lies uncomformably upon south-dipping rocks of the Mancos Shale and Mesaverde Group (Cretaceous). The Navajo Sandstone (Jurassic) lies uncomformably above the Chinle Formation (Triassic) and unconformably below the Carmel Formation (Jurassic). Other formations exposed in Whiterocks Canyon include Precambrian, Cambrian, Mississippian, Pennsylvanian, Permian, Triassic and Jurassic age rocks.

The Navajo Sandstone, which is also called the Nugget Sandstone in northeastern Utah, is bitumen-saturated in and around Whiterocks Canyon. The Navajo is divided into two units; a thin-bedded lower unit, and a highly-cross-stratified upper unit (Uyger & Picard, 1985). The Navajo is mostly of eolian origin, deposited in dune fields and interdune environments. (Picard, 1975; Uyger, 1983). The enclosing Chinle and the Carmel Formations are comprised mainly of impervious shales that may have acted to seal in oil migrating into the Navajo. The deposit is associated with the crest of a steep, south-plunging anticlimal nose (Whiterocks anticline) that subparallels the Whiterocks River. The influence of this structure on bitumen saturation is unknown. Covington (1963) suggested several theories about the origin of the oil. He favored a Pennsylvanian age for the oil migrating from the Weber Sandstone. He also suggested the Green River Formation (Eocene) as a possible source due to similarities in chemical analyses. Sulfur isotopes (Mauger and others, 1973) support this theory.

The bitumen-saturated zone occurs almost entirely within the Navajo Sandstone, and is about 900 feet thick. The deposit strikes N65E for about 1.5 miles. The outcrop is covered on both sides by the Duchesne River Formation. (Eocene-Oligocene). The Navajo is a consolidated, fine-grained, and well-sorted subarkose. Poorly sorted zones of sandstone with a bimodal grain-size distribution are also present. Mineralogically, the Navajo Sandstone is mature and relatively uniform, with varying amounts of clays, iron oxides and carbonate cements. Shale, siltstone and calcareous zones are uncommon. Fracturing is common, although orientation is variable. The degree of bitumen saturation is dependent on permeability and is therefore not uniform. Barren zones are adjacent to rich zones. Numerous resource estimates have been calculated for the Whiterocks Deposit. Severy (1943) estimated resources of 9.52 million barrels based on outcrop mapping. Based upon the results of 11 core-holes, Shirley (1961) calculated total resources of 105 million barrels. Of this total, Shirley classified 57 million barrels as proven reserves and 27 million barrels as probable resources. Covington (1963), using existing core-hole data and results of surface mapping, estimated approximately 50 million barrels. Lewin and Associates (1984) reported a measured resource of 60 million barrels in-place for 200 acres, with speculative resources of another 60 million barrels on 200 acres, calculating 600 feet of saturation. Peterson (1985) suggested that the deposit contains more than 100 million barrels of oil in-place. Campbell (1975) calculated 37.3 million barrels of oil in-place, assuming 182 acres with 500 vertical feet of saturation. Ritzma (1979) classified the deposit as "very large" with 65 to 125 million barrels of oil in-place. From this, he categorized 50 million barrels as measured, 15 million barrels as indicated and the remainder inferred.

It is interesting to note that the lower portion of the Duchesne River Formation, which overlies the eastern extent of the deposit, contains saturated pebbles of Navajo Sandstone. Bitumen occurs in the Duchesne River Formation, however, only along the contact with the Navajo Sandstone. This might indicate that oil migration was prior to deposition of the Duchesne River Formation.

Bitumen Analyses:

Wood and Ritzma (1972) reported standard analyses of bitumen samples from the deposit, and Mauger and others (1973) presented data for sulfur isotopes.

Development History:

Peterson (1985) reported the results of exploratory drilling and presented a brief synopsis of development activities. Tar-sand exploration and development at Whiterocks until the 1940's was limited to small mining operations in pits and adits. In 1957 and 1958, three exploratory wells were drilled along the trend of the deposit in an effort to find liquid crude oil. Two extraction plants were constructed in the early 1960's and used hot water and solvents in their processes. Also in the early 1960's, White Rocks Oil Properties of Salt Lake City drilled 11 core holes in the deposit; nine of these drill holes reportedly penetrated the entire bitumen-saturated interval. Western Industries of Las Vegas, Nevada opened a strip-mine and built a pilot plant along the east side of the Whiterocks River apparently in the late 1960's. Major Oil Company, in the early 1970's, opened a strip-mine and built a pilot plant on the west side off the Whiterocks River (Peterson, 1985). Although other companies conducted exploratory work in the early 1980's, no other processing facilities were constructed. The quarry on the west side of the Whiterocks River is now being mined by Duchesne County for highway paving use.


Utah 's Tar Sand Resource consists of eight major deposits with a combined shallow oil resource of 32.0 billion barrels of oil. The largest of these deposits, the Tar Sand Triangle as it is known, covers an area of 148,000 acres and is located in Wayne and Garfield Counties, between the Dirty Devil and Colorado Rivers.

Field Outline May-Asphalt Ridge Cross Section-Asphalt Ridge Field Richness Map-Asphalt Ridge


Tar Sand Triangle 16.0 billion bbl Sunnyside 6.0 billion bbl
P.R. Spring 4.5 billion bbl Asphalt Ridge 1.5 billion bbl
Hill Creek 1.2 billion bbl Circle Ridge 1.1 billion bbl
Other Deposits 1.4 billion bbl White Rocks 0.3 billion bbl
  Total Shallow Oil 32.0 billion bbl

The Utah Tar Sands have been quarried since the early 1900's primarily for road paving material. Several pilot extraction tests have been operated by oil companies at various times since 1972. The most recent reported pilot tests at Asphalt Ridge were conducted by the Laramie Energy Technology Center of the U.S. Department of Energy. In 1975 through 1978 they completed experimental testing of a combined reverse-forward combustion and steam injection scheme . It was concluded that additional testing of these methods was necessary.

Efforts to develop Utah 's heavy oil primarily ended with the sharp drop in oil prices in the mid-1980's and the high costs of extraction due to inefficient processing technologies. The Joint Venture Partnership and their patented extraction technology is presently focusing on the Asphalt Ridge Deposit because of its unusual richness. It has an average oil saturation of 48% and is very low in sulphur content at 0.4% by weight.

The determination of the geological interpretation and well data were used to determine the measured and speculative field outlines. The well data consisted of 18 cores available from past drilling by the U.S. Government of Energy and private companies.

Depth in feet 20 - 600
Porosity % 27
Permeability (md) 1000+
Maximum: 60
Average 48

The two outcrops contain the richest areas of the measured field. Richness varies from 300 to more than 100 barrels per acre-foot. The net pay ranges from 35 to 50 feet.

The measured resource in-place at Asphalt Ridge is estimated to be 0.8 billion barrels underlying 29,000 acres. The speculative resource in-place is estimated to be 0.3 billion barrels under 22,000 surface acres. (All estimates from the Department of Energy , U.S. Government.)


Resource Barrels per Acre/Foot Net Pay Feet
Contour Range Avg. Range Avg.
Measured Area:
60,000+ B/A 700-1200 850 25-83 50
20-60,000 B/A 580- 950 775 22-100 35
0-20,000 B/A 300-1000 400 7-60 35
Speculative Area:
0-20,000 B/A   400*   35*
*Assumed the same as measured area contour.


Resource Barrels Areal Resource
Contour Per Acre Avg. Extent Acres In Place MMB
Measured Area
60,000+ B/A 40,000 3,200 190
20-60,000 B/A 28.000 11,000 440
0-20,000 B/A 14,000 14,700


Total: 28,900 830
Speculative Area:
0-20,000 B/A 14,000 22,000 310

Share Structure:

112,594,949 O/S as of 12.21.12
250M A/S

Transfer Agent:

Stalt, Inc.

671 Oak Grove Ave.
Menlo Park, CA, 94025


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#538   Ntah, Sunday filing!!!!!! Eom alstocks 05/19/19 02:28:27 PM
#537   Lazar is current CEO of ntah, he is also alstocks 05/07/19 05:20:14 PM
#536   Gotta love these off the radar quiet ones...just CaoPanShou 04/22/19 10:43:11 AM
#535   Whats the sich here? A LAZAR PLAY--- Is Uboat 04/18/19 01:32:26 PM
#534   Slowly rising... CaoPanShou 04/16/19 03:55:34 PM
#533   May i know what is goin on here? Chingga 04/09/19 11:28:32 AM
#532   Why? Look at the near-zero volume and HUGE 0whammies 04/09/19 10:17:06 AM
#531   Nice, let's see if we can break and The Visitor 04/05/19 08:19:12 AM
#530   Atty letter filed: https://backend.otcmarkets.com/otcapi/company/financial-repor LexTrader 04/05/19 08:18:27 AM
#529   Nice grab in the 60s whoever got them Bronx111 04/04/19 08:51:55 PM
#528   Very nice, going current soon. The Visitor 04/04/19 11:25:37 AM
#527   19 filings just dropped 777 04/04/19 11:22:59 AM
#526   Should see that attorney letter today or tomorrow. The Visitor 04/04/19 08:23:15 AM
#525   No volume Geff20 04/02/19 02:45:55 PM
#524   That’s nice, it’s truly on it’s way to PickleNick 04/02/19 09:28:45 AM
#523   NTAH upgraded to "yield" this morning. The Visitor 04/02/19 08:23:13 AM
#522   Trader Shub...new logo is strange... CaoPanShou 04/01/19 05:42:14 PM
#521   Maybe pink this week. CaoPanShou 04/01/19 05:41:31 PM
#520   This one has the chance to be big Geff20 04/01/19 04:02:31 PM
#519   Solid day, nothing traded below .0095 despite some The Visitor 04/01/19 04:01:22 PM
#518   Late day push let’s go Geff20 04/01/19 02:17:09 PM
#517   Filings money love it PutYourBigBoyPantsOn 04/01/19 11:41:13 AM
#516   Congrats... GLTA EmptyBones 04/01/19 11:24:55 AM
#515   Cashed out half of my freebies. It’s like Filtersnitch 04/01/19 11:21:25 AM
#514   Noone ever went broke taking profit too soon. Buckey 04/01/19 11:20:07 AM
#513   Very nice! AJ TonyJoe1957 04/01/19 11:16:24 AM
#512   I took 1800 profit today.. Ride my free EmptyBones 04/01/19 11:15:46 AM
#511   I guess I could have taken a $700 TonyJoe1957 04/01/19 11:12:07 AM
#510   Took some nice money off the table.. gota EmptyBones 04/01/19 10:34:37 AM
#509   I am in. AJ TonyJoe1957 04/01/19 10:03:51 AM
#508   NTAH running with the bulls this morning! The Visitor 04/01/19 09:36:13 AM
#507   Yes it does Bronx111 04/01/19 09:35:51 AM
#506   We got a runner. .02 today? Bronx111 04/01/19 09:35:32 AM
#505   This one has .10 potential with how thin PickleNick 04/01/19 09:35:12 AM
#504   .012 gumzsa 04/01/19 09:34:46 AM
#503   19 filings !!! 81vette 04/01/19 09:21:07 AM
#502   NTAH ~ today should be an interesting session. Bronx111 04/01/19 08:05:16 AM
#501   I agree this one can move Geff20 03/31/19 08:01:52 PM
#500   Gap up Bronx111 03/31/19 07:57:26 PM
#499   Thoughts on the open for monday Geff20 03/31/19 05:55:51 PM
#498   I really don't think so. A gap-up is Bradshmj10 03/31/19 03:47:02 PM
#497   Yup, saw that, thanks gum. Should be a LexTrader 03/31/19 03:01:58 PM
#496   You think .006 will be there Monday? Geff20 03/31/19 12:56:51 PM
#495   Been holding this for a long time. Might EmptyBones 03/31/19 12:04:48 PM
#494   Attorney letter will come next few days just Filtersnitch 03/31/19 11:56:53 AM
#493   $NTAH Not being negative just stating fact. We roger wilco 03/31/19 11:36:12 AM
#492   True but it's moving right along. Could The Visitor 03/31/19 11:27:20 AM
#491   $NTAH still needs quarterly filings and an Attorney roger wilco 03/31/19 11:12:55 AM
#490   19 filings out yesterday gumzsa 03/31/19 09:25:18 AM
#489   Hard to find anything, this a RM? Just RiskyBiskits10 03/31/19 06:31:33 AM